Supernova Digital - Acquisition of Hyperslot
18/03/2024 07:00
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RNS Number : 1455H Supernova Digital Assets PLC 18 March 2024
Press Release
18 March 2024
This announcement contains information which, prior to its disclosure, was
inside information as stipulated under Regulation 11 of the Market Abuse
(Amendment) (EU Exit) Regulations 2019/310 (as amended). Upon the publication
of this announcement via a Regulatory Information Service, this inside
information is now considered to be in the public domain.
Supernova Digital Assets PLC
("Supernova" or "the Company")
Acquisition of Hyperslot
Supernova Digital Assets (AQSE: SOL), a company specialising in the Solana
ecosystem, is pleased to announce the completion of its acquisition of the
entire issued share capital of Hyperslot PTE Limited ("Hyperslot") for a total
consideration of £225,000, which is to be satisfied with the issue of
150,000,000 new Ordinary Shares of £0.001 each in the Company at an issue
price of 0.15p per share ("Consideration Shares").
Application will be made for the Consideration Shares, which will rank pari
passu with the existing Ordinary Shares in issue, to be admitted to trading on
the AQSE Growth Market ("Admission"). Dealings are expected to commence on or
around 21 March 2024.
The Share Purchase Agreement (SPA) also contains the customary warranties,
covenants, undertakings and conditions attached to a transaction of this
nature. Furthermore, the Consideration Shares will be subject to a lock-in
agreement for six months from completion.
Total Voting Rights
Following Admission, the Company's total issued and voting share capital will
consist of 1,603,225,646 Ordinary Shares. The Company does not hold any
Ordinary Shares in treasury.
The above figure may be used by shareholders as the denominator for the
calculations by which they will determine if they are required to notify their
interest in, or a change to their interest in, the Company under the FCA's
Disclosure and Transparency Rules.
About Hyperslot
Hyperslot is a Solana (SOL) validator company which has a compelling thesis
around the future of the SOL in the developing world, with their core thesis
being that it can build the largest developing world validator network,
focusing on South America, Asia and Africa. The Company already has over 1,500
of their SOL ($250,000 USD) staked on their network and is targeting a
pipeline over 115,000 SOL in the near term.
Strategic Rationale
Supernova's vision is that the unprecedented growth of the SOL blockchain in
the last 12 months will continue to grow at pace and eventually become the
dominant global Layer 1. SOL is more scalable, faster and cheaper than
Ethereum which is why it has the fastest growing total value locked (TVL),
projects and developers.
The acquisition importantly includes their SOL which, assuming an 8% yield,
makes this acquisition break even in year one based on their SOL alone.
Hyperslot's proprietary Maximum Extractable Value (MEV) Bot technology is also
included in the acquisition.
Michael Edwards, Executive Chairman of Supernova Digital Assets, commented:
"Having pivoted our strategic focus to the Solana digital asset ecosystem, we
believe the Solana network has the power to drive substantial and enduring
growth in the future. Our acquisition of Hyperslot allows us to own the
opportunity to build the largest validator network in the developing world,
where they have the highest adoption of cryptocurrency. By investing in the
Solana network, we can build and develop a foundational technology of the
future and maximise shareholders returns."
The Directors of Supernova Digital Assets PLC take responsibility for this
announcement.
For further information please contact:
Supernova Digital Assets
Michael Edwards +44 7858 888 007
Executive Chairman
First Sentinel
Corporate Adviser +44 7858 888 007
Brian Stockbridge
About Supernova Digital Assets:
The Company will look to identify investment and business building
opportunities in the high growth Solana and crypto currency ecosystem. The
Board intends to deploy the majority of the Company's cash resources in the
acquisition of minority interests in a number of different, yet to be
identified, companies in the broad Solana and crypto currency ecosystem, and
to apply expertise to the business operations and strategic plans of these
companies. The experience, operational skills and contacts of the Board are
intended to act as an accelerator to start-ups and early-stage companies to
maximise their profit opportunity. It is anticipated that returns to
Shareholders will be delivered through a combination of an appreciation in the
Company's share price and through the adoption of a progressive dividend
policy. The Company's Directors have an established track record, experience
and networks in the crypto currency sector, digital assets management, as well
as the media industry to drive value creation.
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