HUMBL terminates pact to acquire Agora Digital Holdings

Sep. 19, 2022 1:55 AM ETHUMBL, Inc. (HMBL), DEFY, DEFYU, DEFYWBy: Meghavi Singh, SA News Editor11 Comments
  • Humbl (OTCQB:HMBL) notifies that it has terminated previously announced pact to acquire Ecoark’s ~89% owned subsidiary, Agora Digital Holdings (DEFYU).
  • The original terms provided for Ecoark and the remaining owners of Agora Digital to receive $60M in a new class of HUMBL preferred stock in consideration for selling their interests in Agora Digital to HUMBL.
  • The parties have mutually agreed to terminate the Securities Exchange Agreement, as the parties were unable to reach agreement on key terms required to close.
  • As part of the termination, HUMBL has also accepted Brad Hoagland’s resignation from the board.
  • HUMBL will also continue to remain active in reviewing suitable merger and acquisition candidates, having acquired four companies since June 2021 in areas such as mobile wallets, verifiable credentials, ticketing and entertainment.

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