DatChat surges on offer to acquire Avila Security

Myseum AI

20/01/2022 13:36

** Shares of blockchain and social media co  DATS.O  rise
18.4% to $3.54 premarket 
    ** DATS says signed letter of intent to acquire IT firm
Avila Security Corp  urn:newsml:reuters.com:*:nGNX5gbdhd
    ** Deal terms include $1 mln in cash and greater of 739,650
shares of restricted common stock or $2.5 mln of restricted
common stock of DATS
    ** With transaction, co expects to acquire four of Avila's
Web 3.0 patents including blockchain messaging   
    ** Listed in August last year, DATS has plunged ~84% from
its record high in September last year
    ** Up to Wednesday's close, stock down 12.6% since it went
public

 (Reporting by Chavi Mehta in Bengaluru)
 ((Chavi.Mehta@thomsonreuters.com;))