AcquisitionsMay 22, 2026, 09:13 AM
Functional Brands to Acquire Alchemy for $142.9M in All-Stock Deal
AI Summary
Functional Brands Inc. announced a definitive agreement to acquire assets and intellectual property from BullionFX, including its Alchemy blockchain-based financial ecosystem, for $142.9 million. The transaction will be an all-stock asset acquisition, with consideration paid in 100,000 shares of newly created Series D Preferred Stock. This acquisition aims to position Functional Brands at the center of the gold-backed decentralized finance (DeFi) market, targeting retail, institutional, and blockchain sectors. The closing is anticipated in the second or third quarter of 2026, subject to various conditions including a $10 million equity financing.
Key Highlights
- Functional Brands to acquire BullionFX's Alchemy platform for $142.9 million.
- Consideration is 100,000 shares of newly created Series D Preferred Stock.
- Series D Preferred Stock expected to convert into 98.28% of Common Stock post-conversion.
- Closing anticipated in Q2 or Q3 2026, subject to various conditions.
- Conditions include a $10 million equity financing and settlement of litigation.
- Alchemy is a vertically integrated, gold-backed blockchain settlement layer and DeFi ecosystem.
- Acquisition aims to disrupt retail, institutional, and blockchain markets.
- Company will seek stockholder approval for conversion shares issuance post-closing.
Price Impact
More from MEHA