Bannix Acquisition Corp Says Tokenize Are Continuing Discussions With Respect To A Potential Acquisition Of Certain Assets Of Tokenize By The Co; Agreed To Terminate Patent Purchase Agreement As PPA Was Contingent Upon Co Closing Acquisition Of Evie Autonomous Group Ltd
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Bannix Acquisition Corp (BNIX) and Tokenize are in ongoing discussions regarding a potential acquisition of certain Tokenize assets. They have mutually agreed to terminate the Patent Purchase Agreement (PPA) as it was contingent on BNIX's acquisition of Evie Autonomous Group Ltd, which did not close, according to an SEC filing.
March 22, 2024 | 8:38 pm
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Bannix Acquisition Corp (BNIX) is in discussions with Tokenize for a potential asset acquisition, but has terminated the Patent Purchase Agreement due to the non-acquisition of Evie Autonomous Group Ltd.
The termination of the Patent Purchase Agreement and the ongoing discussions with Tokenize suggest a strategic pivot for BNIX, which could have neutral to slightly negative short-term implications due to the uncertainty of the acquisition's outcome. However, the active pursuit of acquisitions indicates a forward-looking growth strategy, which might balance out investor sentiment.
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