Signing Day Sports soars on Swifty Global acquisition deal

Signing Day Sports

29/01/2025 16:31

** Shares of athlete recruitment platform Signing Day Sports
 SGN.A  rise ~180% to $5.44
    ** SGN says it will buy 99.13% of the issued and outstanding
capital stock of Dear Cashmere Group Holding Company, doing
business as Swifty Global, through a stock purchase agreement
    ** Swifty Global will become a subsidiary of SGN after the
acquisition is complete, co says
    ** Swifty Global CEO James Gibbons will become the CEO of
SGN
    ** SGN says it will issue shares of its common stock to the
sellers of Swifty Global as payment for the acquisition
    ** The companies will seek to raise at least $2 million in
financing to support the acquisition and pay off outstanding
liabilities
    ** More than 65 mln shares traded, 246x their 25-day moving
average
    ** SGN fell 94.8% in 2024

 (Reporting by Kamal Choudhury in Bengaluru)
 ((Kamal.Choudhury@thomsonreuters.com;))