Edison Nation, Inc. entered into an agreement to acquire TBD Safety, LLC from Graphene Holdings, LLC, Mercury FundingCo, LLC, Ventus Capital, Llc and Jetco Holdings, L.L.C.
October 30, 2020
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Edison Nation, Inc. (NasdaqCM:EDNT) entered into an agreement to acquire TBD Safety, LLC from Graphene Holdings, LLC, Mercury FundingCo, LLC, Ventus Capital, Llc and Jetco Holdings, L.L.C. on September 29, 2020. As part of the agreement, Edison Nation is to to acquire all outstanding Membership Units of TBD Safety, LLC. In addition, Edison Nation and Graphene Holdings, LLC, Mercury FundingCo, LLC, Ventus Capital, Llc and Jetco Holdings, L.L.C. shall enter into a Registration Rights Agreement in favor of the their obligating the Edison Nation to register such common stock and shares of common stock to be issued upon conversion of the preferred within 120 days after the closing. David Tanzer resign as the Chief Executive Officer and Manager, Brian McFadden resign as the Chief Marketing Officer and Manager and Timothy Cabrera resign as the Chief Operating Officer & President and Manager of TBD Safety, LLC, affirm that this will take effect contemporaneously upon the completion and execution of all deliverables of this agreement. As of October 1, 2020, the closing of the transaction occurred on September 30, 2020. As of October 2, 2020, the agreement was executed by all parties on September 30, 2020 with a closing date expected on or before October 16, 2020.
Vinco Ventures, Inc. is a digital media and content technology company. The Company, through its subsidiary, ZVV Media Partners, LLC, has an 80% ownership interest in Lomotif Private Limited (Lomotif), which offers a video-sharing social networking platform that is committed to democratizing video creation. The Lomotif app allows its users to create their own music videos by selecting pictures and videos from the camera, mixing them with music, and transforming video clips into music videos. The Lomotif platform offers LoMoTV, a digital entertainment and lifestyle content network offering original programming. Through AdRizer LLC, it provides technology solutions to automate the use of artificial intelligence for digital advertising analytics and programmatic media buying through its core platform, Cortex. Through Honey Badger Media, LLC, it offers a full-service digital commerce strategy solution focused on brand specific messaging and designing comprehensive digital campaigns.
Edison Nation, Inc. entered into an agreement to acquire TBD Safety, LLC from Graphene Holdings, LLC, Mercury FundingCo, LLC, Ventus Capital, Llc and Jetco Holdings, L.L.C.