MultiMetaVerse Holdings Signs Definitive Deal to Acquire Bowong AI

MT Newswires Live12-02

MultiMetaVerse Holdings (MMV) said Monday it signed a definitive share exchange agreement to acquire Bowong AI in exchange for 37 million class A MultiMetaVerse common shares.

The company said the deal supersedes the non-binding term sheet that it signed with Bowong AI's Bowong Technology unit in October.

Following the transaction, Bowong AI will become wholly owned MultiMetaVerse subsidiary, while Bowong Technology and other Bowong AI units will become consolidated subsidiaries and affiliates of MultiMetaVerse, the company said.

The transaction remains subject to approvals and other closing conditions and that there is no guarantee that it will close in a timely manner or at all, the company said.

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