Summary by Moomoo AI
On June 28, 2024, Collective Audience, Inc., a Delaware-incorporated company listed on the Nasdaq Stock Market under the symbol CAUD, reported the completion of a significant acquisition. The company entered into an Equity Exchange Agreement to purchase a 51% stake in DSL Digital LLC, making it a consolidated subsidiary. The transaction involved the issuance of 3,242,875 restricted shares of Collective Audience's common stock to DSL's sole member, Gregg Greenberg, with a 10% holdback to be released 18 months post-closing, subject to indemnification claims. Additionally, a lock-up agreement restricts the sale of these securities for up to two years. Collective Audience retains the option to acquire the remaining 49% of DSL in the future. The acquisition, which closed on the same day as...Show More
