OMID Holdings, Inc. completed the acquisition of AV1 Group, Inc. in a reverse merger transaction.
OMID Holdings, Inc. completed the acquisition of AV1 Group, Inc. (OTCPK:AVOP) in a reverse merger transaction on February 14, 2020. Post acquisition, the name of AV1 Group, Inc. changed to OMID Holdings, Inc. with a change in ticker to 'OMID'. All previous business elements of AV1 Group, Inc. including its prior assets, liabilities, and debts have been settled and/or spun-off. The new leadership team consists of Adam Frank, as Chief Executive Officer & Chairman and Kevin Anderson, as President & Chief Operating Officer. The executives of AV1 Group, Inc. have tendered their resignation, effective upon the closing. The company will be headquartered in Phillipsburg, New Jersey.