Tokens.com has made a notable advancement in the digital asset investment industry by fully acquiring Web3 tech company Metaverse Group. Having previously owned a majority share, Tokens.com has now procured the remaining minority interest, transacted with nearly $928,225 worth of its own shares.
Details of the Deal
This acquisition involved Tokens.com releasing 20,576,941 common shares to the minority shareholders of the Metaverse Group. These shares can be exchanged at a rate of 0.347 per Tokens.com stock. At a trading price of about $0.13 on the day of the announcement, this exchange rate indicated a valuation of approximately $928,225 for the residual stake.
Further elements of the deal included the issuance of 3,105,650 options to purchase Tokens.com shares and 694,000 restricted stock units designated as replacement securities.
Tokens.com CEO Andrew Kiguel stated: “The staking business has provided a strong cushion of capital for our business since inception. As the Company grows, we need to evaluate where we can achieve the highest risk-adjusted returns.”
The issued shares to Metaverse Group shareholders will be subject to a nine-month escrow period. During this phase, a third party will retain the shares until specific terms of the purchase agreement are satisfied.
Enhancing the Gaming Infrastructure
Tokens.com is committed to developing a cutting-edge metaverse gaming infrastructure. Its two primary offerings, Metaverse Group, a metaverse platform with custom tech solutions and NFTs for constructing 3D worlds, and Hulk Labs, a Web3 gaming studio, are central to this mission.
By assuming complete ownership of Metaverse Group, Tokens.com is poised to enhance integration between the companies, thus promoting technological synergies.