Brief: Bit Brother Intents To Acquire 100-Year-Old Restaurant Angelo's Pizza 1697 Inc

Bit Brother

13/07/2021 13:21

July 13 (Reuters) - Bit Brother Ltd  BTB.O :
    * BIT BROTHER INTENTS TO ACQUIRE 100-YEAR-OLD RESTAURANT
ANGELO'S
PIZZA 1697 INC
    * BIT BROTHER LTD - ENTERED INTO LETTER OF INTENT TO ACQUIRE
51%
OF ANGELO'S PIZZA 1697 INC., 1279 1ST AVENUE LLC, & 60TH STREET
RESTAURANT CORPORATION
    * BIT BROTHER LTD - UPON COMPLETION OF ACQUISITION, ALL
THREE
CHAIN RESTAURANTS WILL BEGIN TO ACCEPT CRYPTOCURRENCY AS A FORM
OF PAYMENT
    * BIT BROTHER LTD - UNDER TERMS OF LOI, TOTAL CONSIDERATION
FOR
51% OF EQUITY INTEREST IN ANGELO'S PIZZA IS $12.5 MILLION
    * BIT BROTHER LTD - 50% OF TOTAL CONSIDERATION SHALL BE PAID
IN
CASH AND 50% SHALL BE PAID IN COMPANY'S ORDINARY SHARES

Source text for Eikon:  ID:nPn34BL67a 
Further company coverage:  BTB.O 

 ((Reuters.Briefs@thomsonreuters.com;))