27th Jun 2024 14:54
Alteration Earth PLC - London-based special purpose acquisition company - Says that while the board was disappointed that its proposed acquisition of Verdant Earth Technologies Ltd could not be progressed, it has since been exploring other potential acquisition opportunities, including in a different sector of the market. Accordingly, enters non-binding heads of terms to acquire the entire issued share capital of PRI0R1TY AI PLC, in consideration for an issue of new shares in the company. PRIOR1TY is a London-based firm building a digital agent for automated business processes.
Assuming the transaction completes, the transaction value is expected to be GBP12.5 million, of which GBP10 million would be attributed to PRIOR1TY selling shareholders and GBP2.5 million would be the residual value retained by the Alteration Earth shareholders.
Current stock price: 8.56 pence
12-month change: down 32%
By Holly Beveridge, Alliance News senior reporter
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