- Yubba Capital Corporation and Ruckify Inc. have entered a letter of agreement (LOI)
- Ruckify will do a reverse take-over of Yubba
- Prior to the closing of this deal, Ruckify intends to complete the transfer of sales independently of Fat Llama Inc. through a triple merger of a fully owned subsidiary of Ruckify
- Ruckify is an online person-to-person rental marketplace
- Yubba is unchanged, trading at C$0.13 as of 8:21 a.m. ET
Yubba Capital Corporation and Ruckify have entered a letter of agreement (LOI).
As of October 2, 2021, the terms and conditions of the LOI state that Ruckify will do a reverse take-over of Yubba.
Prior to the closing of this deal, Ruckify intends to complete the transfer of sales independently of Fat Llama Inc. through a triple merger of a fully owned subsidiary of Ruckify. This happens with Fat Llama following the terms of a merger agreement from September 14, 2021, involving Ruckify, Ruckify sub corporation Inc and Fat Llama.
This means that they will be the surviving corporation of this merger and will become a wholly-owned operating subsidiary of Ruckify.
Each common share held by Fat Llama shareholders will be automatically converted into 1.841 fully paid and non-assessable shares of Ruckify.
Ruckify is an online person-to-person rental marketplace that makes it safe and easy for you to post and/or book anything someone might want to rent.
To accelerate its growth, Ruckify identified Fat Llama, the leading rent anything marketplace in the United Kingdom, as a strategic acquisition target. Ruckify expects that Fat Llama’s advanced technology and proven business model will provide the foundation upon which it can more effectively operate its marketplace. Ruckify and Fat Llama expect that by working together, the merged entity can expand into new markets and become the global rent anything marketplace leader.
Yubba is unchanged, trading at C$0.13 as of 8:21 a.m. ET.