Bullboard - Stock Discussion Forum Adrabbit Ltd V.RABI.H

Technology Software - Application

Adrabbit Ltd, former AppsVillage Australia Limited is an Israel-based company that has developed a Software-as-a-Service (SaaS) cloud-based platform that provides small-to-medium businesses with a way to develop their own branded mobile business applications as a means of connecting with their clients. The Company’s platform enables small-to-medium businesses to create, manage and share their... see more

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TSXV:RABI.H - Post Discussion

Adrabbit Ltd > FTX didn't kill the last $35M!

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Post by Loony on Mar 13, 2024 10:19pm

FTX didn't kill the last $35M!

https://igamingbusiness.com/legal-compliance/legal/playup-laila-mintas-false-documents/
FTX reported limited entangled with PlayUp

Simic has repeatedly blamed the eventual collapse of FTX as heavily impacting the business. Sources contest this, claiming the financial entanglement between the two was limited. Only one transaction went through, a $35m senior convertible note made out to PlayUp in the wake of the failed bid.

https://stockhouse.com/news/press-releases/2024/03/13/adrabbit-limited-announces-proposed-reverse-takeover-transaction-with-playup

As consideration for the PlayUp Assets, and subject to customary adjustments, including a proposed 7.44 to one (1) share consolidation (the "Consolidation") of the issued and outstanding common shares of AdRabbit (the "Resulting Issuer Shares"), PlayUp will receive 100,000,000 common shares of AdRabbit (the "Common Shares") at an aggregate deemed issue price of $35,000,000, or $0.35 per Common Share.