DeFi Technologies signs letter of intent to acquire market maker Stillman Digital

ChainCatcher news, Canadian listed company DeFi Technologies has signed a letter of intent to acquire digital asset liquidity provider Stillman Digital, whose core business includes electronic trading execution, over-the-counter block trading, and market making. According to the letter of intent, DeFi Technologies will acquire all issued and outstanding securities of Stillman Digital in exchange for 2.5 million shares of DeFi Technologies common stock, of which 1 million shares are subject to a lock-up plan and will be released quarterly over one year.

Both parties intend to reach a final agreement on the acquisition by July 31, 2024.