Brief: Crexendo Inc Entered Into An Acquisition Agreement With Bryan J. Dancer, An Individual, And Allegiant Networks, Llc

Crexendo

21/10/2022 14:16

Oct 21 (Reuters) - Crexendo Inc  CXDO.O :
    * CREXENDO INC - ON OCTOBER 17, CO ENTERED INTO AN
ACQUISITION
AGREEMENT WITH BRYAN J. DANCER, AN INDIVIDUAL, AND ALLEGIANT
NETWORKS, LLC
    * CREXENDO INC - THE PROPOSED TRANSACTION WILL EXPAND
CREXENDO’S
BUSINESS AND FOOTPRINT, PARTICULARLY IN KANSAS AND MISSOURI
    * CREXENDO INC- FOLLOWING THE ACQUISITION BRYAN DANCER WILL
JOIN
CREXENDO, SERVING AS AN EXECUTIVE VICE PRESIDENT
    * CREXENDO INC- CO WILL ACQUIRE ONE HUNDRED PERCENT (100%)
OF THE
MEMBERSHIP INTERESTS OF ALLEGIANT IN EXCHANGE FOR CASH, STOCK,
AND A BUYER’S NOTE
    * CREXENDO INC - TRANSACTION IS EXPECTED TO BE HIGHLY
ACCRETIVE
    * CREXENDO INC - AT THE CLOSING OF THE TRANSACTION, CREXENDO
WILL
MAKE A PAYMENT OF TWO MILLION DOLLARS IN CASH
    * CREXENDO- AT CLOSING, CO TO ISSUE 2,461,538 SHARES OF
COMMON
STOCK OF CREXENDO, DELIVER A NOTE PAYABLE IN FAVOR OF DANCER FOR
REMAINING $1,100,000 OF PURCHASE PRICE

Source: (shorturl.at/dhsFQ)
Further company coverage:  CXDO.O 
 ((Reuters.Briefs@thomsonreuters.com;))