Brief: Ecoark Announces Plan For A Spin-Off Of Trend Discovery Subsidiary Into Publicly Traded Company

Riskon International

26/08/2021 12:43

Aug 26 (Reuters) - Ecoark Holdings Inc  ZEST.O :
    * ECOARK ANNOUNCES PLAN FOR A SPIN-OFF OF ITS TREND
DISCOVERY
SUBSIDIARY INTO A NEW INDEPENDENT, PUBLICLY TRADED COMPANY
    * ECOARK HOLDINGS INC - TREND DISCOVERY TO REBRAND INTO
PURE-PLAY
FINTECH COMPANY
    * ECOARK HOLDINGS INC - PLANS TO DISTRIBUTE APPROXIMATELY
80% OF
COMMON STOCK OF TREND TO ITS SHAREHOLDERS AS OF A FUTURE RECORD
DATE
    * ECOARK HOLDINGS INC - VIA ITS HOLDING COMPANY MODEL, PLANS
TO
RETAIN REMAINING 20% OWNERSHIP IN TREND
    * ECOARK HOLDINGS INC -  CFO BRAD HOAGLAND, EXPECTED TO
ASSUME
ROLE OF CHIEF INVESTMENT OFFICER OF TREND
    * ECOARK HOLDINGS INC - TREND IS EXPLORING OPPORTUNITIES TO
ACQUIRE OR MERGE WITH POTENTIAL SYNERGISTIC PRIVATE AND/OR
PUBLIC FINTECH BUSINESSES
    * ECOARK - TREND IS DISCLOSING IT IS IN DISCUSSIONS TO BUY
AN
ALREADY PRODUCING BROKER-DEALER BUSINESS AND A BUSINESS HOLDING
MONEY TRANSMITTER LICENSES

Source text for Eikon:  ID:nGNX7XBf4P 
Further company coverage:  ZEST.O 

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