AcquisitionsJun 22, 2026, 08:02 AM
Olenox Industries Acquires CS Digital Ventures for $30M Upfront
AI Summary
Olenox Industries Inc. entered into an Amended and Restated Membership Interest Purchase Agreement to acquire 100% of CS Digital Ventures, LLC. The aggregate upfront consideration is $30,000,000, comprising $14,000,000 in Series E Preferred Stock and a $16,000,000 unsecured promissory note. Additionally, warrants for 1,500,000 common shares and up to $20,000,000 in earnout shares of Series E Preferred Stock are part of the deal. Concurrently, existing Series D Preferred Stock holders exchanged their shares for Series E Preferred Stock. The conversion of Series E stock and exercise of warrants are subject to a 19.9% cap and require stockholder approval.
Key Highlights
- Olenox Industries acquired 100% of CS Digital Ventures, LLC.
- Aggregate upfront consideration for the acquisition is $30,000,000.
- Upfront consideration includes $14,000,000 in Series E Preferred Stock.
- Upfront consideration includes $16,000,000 in an unsecured promissory note.
- Warrants to purchase 1,500,000 common shares were issued, with exercise prices of $5, $7, and $9.
- Up to an additional $20,000,000 in Series E Preferred Stock is issuable based on post-closing milestones.
- Existing Series D Preferred Stock was exchanged for an equal number of Series E Preferred Stock.
- Stockholder approval is required for conversion of Series E Preferred Stock and warrants exceeding 19.9% of common stock.
Price Impact
More from OLOX