Tuesday, December 28, 2021 12:29:55 PM
Irvine, CA, Dec. 23, 2021 (GLOBE NEWSWIRE) -- FDCTech, Inc. ("FDC" or the "Company," OTCQB: FDCT), a fintech company with a full suite of digital financial services solutions, today announced that it had entered into a sales purchase agreement ("Agreement") under which the Company will acquire 51% equity interest in AD Advisory Services Pty Ltd. ("ADSL") in a stock-for-stock transaction.
Under the terms of the Agreement, ADS will receive 45,000,000 shares of the Company common stock, representing an equity value of approximately $3.15 million based on a $0.07 per share price. Accordingly, the Company will receive 62,450,000 ADS shares representing 51.0% of the current outstanding equity interest and voting power of the ADS common stock.
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