- Investment company Routemaster Capital (RM) has agreed to acquire 51 per cent of issued and outstanding shares in DeFi Holdings
- The company will issue 20 million of its common shares to shareholders of DeFi, as payment for the interest
- After the acquisition transaction is complete, DeFi will become a wholly owned subsidiary of Routemaster Capital
- The company expects its acquisition of DeFi will provide shareholders with access to the emerging decentralised finance industry
- Routemaster Capital is down 7.22 per cent and is currently trading for $0.90 per share
Investment company Routemaster Capital (RM) has agreed to acquire 51 per cent of issued and outstanding shares in DeFi Holdings.
Routemaster already currently owns 49 per cent of DeFi Holdings, and has entered into a definitive agreement to acquire the remaining interest.
Under the terms of the agreement, the company will issue 20 million common shares in Routemaster, otherwise known as payment shares. The payment shares from the company’s treasury will be issued to shareholders of DeFi Holdings as consideration for the acquisition.
In exchange, Routemaster will receive the last 51 per cent of common shares (purchased shares) in DeFi pro rata, in proportion to their holdings of purchased shares.
The completion of this transaction is subject to the customary closing conditions, as well as regulatory approval. There is no guarantee that the acquisition of the purchase shares will be completed as proposed in the definitive agreement, or at all.
If the acquisition transaction is completed, DeFi Holdings will become a wholly owned subsidiary of Routemaster Capital.
As a company, DeFi Holdings’ focus is on investing in and managing trading technologies related to the emerging decentralised finance industry. This refers to digital assets, financial smart contracts, protocols, and decentralised applications built on the blockchain.
As a growing sector of the evolving finance industry, decentralised finance removes the intermediaries in transactions between two parties. This is because users can access the network directly, removing the need for the middle man.
Routemaster Capital expects that its acquisition of DeFi will provide its shareholders with access to this budding sector of finance.
Routemaster Capital is down 7.22 per cent and trading for $0.90 per share, as of 2:45pm EST.