Connexa Sports Technologies To Acquire Yuanyu Enterprise Management; To Issue 162.6M Shares To YYEM To Complete Transaction
Portfolio Pulse from Benzinga Newsdesk
Connexa Sports Technologies is set to acquire Yuanyu Enterprise Management by issuing 162.6 million shares to complete the transaction. Additionally, a change-in-control and spin-off of Slinger Bag has received shareholder consent. These transactions are pending Nasdaq approval.
May 17, 2024 | 1:02 pm
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Connexa Sports Technologies is acquiring Yuanyu Enterprise Management by issuing 162.6 million shares. The transaction, along with a change-in-control and spin-off of Slinger Bag, has received shareholder consent but is pending Nasdaq approval.
The acquisition and issuance of new shares could potentially increase Connexa's market presence and operational capabilities. However, the pending Nasdaq approval introduces some uncertainty. The shareholder consent for the change-in-control and spin-off of Slinger Bag is a positive sign.
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