Noco-noco Acquires X-SEPA Technology Production Equipment Valued ~$9M In Exchange For ~90M New Shares Issued From Co At Reference Price Of $0.10/Share
Portfolio Pulse from Benzinga Newsdesk
Noco-noco has acquired X-SEPA technology production equipment valued at approximately $9 million. The acquisition was made in exchange for issuing around 90 million new shares at a reference price of $0.10 per share.
October 16, 2024 | 1:08 pm
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Noco-noco has acquired X-SEPA technology production equipment valued at $9 million by issuing 90 million new shares at $0.10 each. This move could dilute existing shares but also enhance production capabilities.
The acquisition involves issuing a significant number of new shares, which could lead to share dilution. However, the acquisition of production equipment could enhance Noco-noco's capabilities, potentially offsetting the dilution impact. The net effect on the stock price is uncertain in the short term.
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