MemeCore-ZeroStack Deal: Closed or Still Pending?
Yahoo Finance and CryptoBriefing agree on the terms of the MemeCore-ZeroStack token-for-equity deal but disagree on whether the transaction has actually closed.
Yahoo Finance and CryptoBriefing agree on the terms of the MemeCore-ZeroStack token-for-equity deal but disagree on whether the transaction has actually closed.
What all sources agree on
- Puple AI Inc. and Blockcat Pte. Ltd. contribute 925,925,926 $M tokens, valued at $1.08 each.
- ZeroStack issues 3.5 million common shares and pre-funded warrants covering up to approximately 36.2 million additional shares.
- The warrants are priced at $25.19 per share, more than 12 times ZeroStack’s recent market trading price.
- ZeroStack Corp. trades on Nasdaq under the ticker ZSTK.
- ZeroStack also holds 0G tokens alongside the new $M position.
Where the reports disagree
1Whether the transaction has closed
Under the definitive agreement, Puple AI Inc. and Blockcat Pte. Ltd. will contribute 925,925,926 $M tokens, valued at $1.08 each, in exchange for 3.5 million ZeroStack common shares and pre-funded warrants covering up to 36,198,293 additional shares.
ZeroStack Corp. (NASDAQ: ZSTK) announced the completion of a transaction involving roughly $1 billion worth of MemeCore ($M) tokens in exchange for equity. The deal, which closed on August 19, added 925,925,926 $M tokens to ZeroStack’s balance sheet at a valuation of $1.08 per token.
What would settle it: The company’s SEC Form 8-K filing and any shareholder vote records confirming closing status.
2Whether warrant shares can be issued now or require future approval
Shares tied to the warrants cannot be issued until shareholders approve the transaction under Nasdaq Listing Rule 5635 and will be subject to a lock-up lasting up to 10 years after closing.
In return, ZeroStack is issuing 3.5 million common shares plus pre-funded warrants that could allow the purchase of up to approximately 36.2 million additional shares at $25.19 each.
What would settle it: The SEC Form 8-K filing and any subsequent shareholder vote disclosure.
What to make of it
Treat the token amount, valuation, share/warrant structure, and premium as established; do not treat the deal as definitively closed or still pending until the SEC filing or shareholder vote record is checked directly.
Treat the token amount, valuation, share/warrant structure, and premium as established; do not treat the deal as definitively closed or still pending until the SEC filing or shareholder vote record is checked directly.
Original source: AltcoinGordon
Syndicated coverage. Originally reported by altcoingordon.com.
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