Brief: Logiq Signs Loi To Acquire Privately Held Operating Company
17/11/2022 11:34
Nov 17 (Reuters) - Abri SPAC I Inc ASPA.O :
* LOGIQ SIGNS LOI TO ACQUIRE PRIVATELY HELD OPERATING
COMPANY
* LOGIQ INC - WILL ACQUIRE PRIVCO IN A SHARE EXCHANGE OF
NEWLY
ISSUED LOGIQ SHARES FOR 100% OF SHAREHOLDER INTERESTS OF PRIVCO
* LOGIQ INC - POST-TRANSACTION COMBINED ENTITY IS EXPECTED
TO
APPLY FOR NASDAQ OR NYSE UP-LISTING
* LOGIQ INC - PRELIMINARY CONFIDENTIAL TARGET VALUATION IS
BETWEEN
$225M AND $300M FOR DEAL
* LOGIQ INC - PRIVCO WILL BECOME A WHOLLY-OWNED SUBSIDIARY
OF
COMPANY
* LOGIQ INC - TRANSACTION WOULD BE EXECUTED SIMULTANEOUSLY
WITH
LOGIQ'S PENDING ABRI DE-SPAC DEAL
Source text for Eikon: ID:nGNX9g5rgt
Further company coverage: ASPA.O
((Reuters.Briefs@thomsonreuters.com;))
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