Cryptocurrency firm Nakamoto Inc will be acquiring two key companies within the digital assets industry, which are BTC Inc and UTXO management, as per an official press release on Tuesday.
The update signals tighter ownership of some of cryptocurrency’s most relevant businesses and will add more segments to Nakamoto’s holdings.
If secured, Nakamoto will be taking over one of crypto’s largest media and events outlets. Created in 2013, BTC Inc manages 27 media outlets and mainly covers digital assets and cryptocurrency. According to its official website, it is the parent company of Bitcoin Magazine, The Bitcoin Conference, and Bitcoin for Corporations.
“For more than a decade, BTC Inc has focused on informing, convening, and advancing the global Bitcoin community,” said BTC Inc CEO Brandon Green.
“Combining with Nakamoto represents a significant opportunity to scale our reach, deepen engagement, and support the next phase of Bitcoin’s growth across enterprises and investors.”
UTXO Management was founded in 2019 and is focused on capital allocation towards public and private Bitcoin investments, using money from its clientele.
The financing for the deal will be carried out in an all-stock transaction via a call option, with Nakamoto compensating shareholders of the two firms with its stock at a price level of $1.12 per share . BTC Inc and UTXO management will be receiving roughly 363 million shares (363,589,816) of common stock in Nakamoto.
“Bringing BTC Inc and UTXO into Nakamoto has been a part of our vision since day one,” said Nakamoto Chairman and CEO David Bailey.
“We intend to operate a portfolio of companies across media, asset management, and advisory services that can scale with Bitcoin’s long-term growth. BTC Inc and UTXO are global leaders in Bitcoin media and asset management. This transaction signifies the first step of the company we intend to build, and we’re just getting started.”
At the time of writing, Nakamoto shares were priced at $0.28, down by 90.56% on an all time basis.
Source: Google Finance