RE:news press releaseThe original deal was for:
1) €29,010 or around 42k CAD at current exchange rate
2) Earn out ammount of €81,000 or 118k CAD
In todays PR:
For #1 Fobi pays: "476,126 common shares in the capital of the Company (“Fobi Shares”) at a deemed price per Fobi Share of CAD$0.088 for aggregate upfront consideration of C$41,899.14"
For #2: "the maximum number of Fobi Shares payable pursuant to the earn-out shall be 1,559,844 Fobi Shares. "
The key word here is "the maximum"
1,558,884 at a price of 0.75 = 117k. This will be the lowest price that Wallet.com will get
The actual number of shares will be determined at the time those shares are given to Wallet.com and the share price at that point. The amount Wallet.com will recive is the same as what was initially anounced (around 118k CAD)
This deal has not closed yet. If the deal closes on April 30, then the 1 year after the closing will be April 30m 2025 and the number of shares that Fobi gives Wallet,com is determined by:
- Fobi share price around April 30, 2025
- Wallet.com meeting the trquirements for the "Earn-Out Shares"