Robinhood Markets, Inc. cancelled the acquisition of Ziglu Limited
December 30, 2022
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Robinhood Markets, Inc. (NasdaqGS:HOOD) agreed to acquire Ziglu Limited for approximately $170 million on April 16, 2022. The purchase price is subject to customary purchase price adjustments. On August 15, 2022, the stock purchase agreement was amended, resulting in a purchase price reduction. Under the amendment, the aggregate purchase consideration to be paid by us is approximately $73 million. This purchase price remains subject to customary adjustments as set forth in the agreement. Transaction is subject to regulatory approvals and other customary closing conditions and is expected to close no later than the fourth quarter of 2022. The transaction will close, if at all, no sooner than the first quarter of 2023. Shawn Atkinson, Katie Cotton, Daniel Barrett-Nembhard, Katrina Walsingham, Patricia Wing, Natasha Ahmed, Kirstie Parr, Anna Humphrey, David Klass, Marsha Mogilevich, Hannah Hewitt, Douglas Lahnborg, and Matthew Rose of Orrick, Herrington & Sutcliffe LLP acted as legal advisor to Robinhood Markets, Inc. Broadhaven acted as a financial advisor to Ziglu Limited in the transaction.Samengo-Turner, WilliamBrooks, Sam Johnstone, Nikki Shah, Priya McCarthy, Paul Dew, KateFearon, Rayann Cullen, Fionnuala Gilmore, Emer Brahmbhatt, Karishma Cheng, Amy Bothwell, DavidConey, Fergal Weaver, DavidHarris, IsabellaCopeland, Rory James, Katie acted as legal advisor to Robinhood markets.
Robinhood Markets, Inc. (NasdaqGS:HOOD) cancelled the acquisition of Ziglu Limited in forth quarter of 2022.
Robinhood Markets, Inc. provides financial services platform for everyone, regardless of their wealth, income, or background. It uses technology to provide access to the financial system. Its offerings include Brokerage, Robinhood Crypto, Custody, Robinhood Wallet, Robinhood Gold, and Robinhood Credit Card. Its Brokerage services include investing, options trading, fractional trading, recurring investment, access to investing on margin, fully paid securities lending, cash sweep, instant withdrawals, Robinhood retirement, 24-hour market, and IPO access and directed share program. It also commission-free cryptocurrency trading in the through Robinhood Crypto, LLC. It provides crypto recurring investments, allowing customers to automatically buy crypto, commission-free, on a schedule of their choice. It also holds settled cryptocurrencies in custody on behalf of customers in two types of wallets: hot wallets, which are managed online and cold wallets, which are managed entirely offline.