Stakk to Acquire US-Based Artificial Intelligence Firm for $63 Million Total Consideration
Stakk (ASX:SKK) entered into a definitive agreement to acquire US-based ParaScript and ParaScript Management for cash, scrip, and deferred payment consideration of $63 million, according to a Monday Australian bourse filing.The transaction remains subject to shareholder and other approvals, as well as customary closing conditions.The total consideration comprises $25 million payable in cash at completion, $19 million payable in fully paid ordinary shares in Stakk, to be issued at an implied issue price of AU$0.022 per share, and $19 million payable as deferred cash consideration over four years following completion.Stakk secured firm commitments received for a AU$27 million institutional placement, which will partly fund the acquisition. Directors and management are subscribing to AU$5 million of the placement.Stakk's shares fell 1% in recent trading on Monday.`
