Douugh to Acquire US Embedded Finance Platform; Shares Surge 67%

MT Newswires Live09-27

Fintech company Douugh (ASX:DOU) signed a share purchase agreement to acquire US embedded finance platform Radical DBX, according to a Friday filing with the Australian Securities Exchange.

Consideration for the transaction involves the issue of 892.8 million DOU shares at AU$0.005 apiece, and three tranches of performance consideration in Radical DBX, based on revenue criteria achievement, the filing said.

If the transaction becomes successful, Radical DBX will be rebranded as Stakk Technologies and Douugh will be renamed as Stakk Limited.

Meanwhile, the company secured $1 million in working capital through a convertible loan from US-based Relentless Fintech Partners, according to the filing.

Douugh shares surged 67% in midday trade.

Price (AUD): $0.01, Change: $+0.0020, Percent Change: +66.67%

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