will take months before this closes (If) all was approved!
The Agreement contains customary representations, warranties and covenants made by each of the Company, Gix Media and Merger Sub. Consummation of the Merger is subject to certain closing conditions, including, among other things,
(i) the Company filing an amendment to its certificate of incorporation to change the Company’s name to “Gix Media, Inc.”,
(ii) obtaining approval from certain third parties, including the approval of Bank Leumi due to certain liens registered in its favor against ordinary shares of Gix Media;
(iii) conversion of the Company’s outstanding convertible instruments into restricted common stock of the Company and
(iv) obtaining a tax pre-ruling from the Israeli Tax Authority relating to the Agreement. In addition, the closing of the Agreement is subject to and conditioned upon the approval of the shareholders of Gix Media and Merger Sub.
