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BRIEF-Mogo Expands Into Global B2B FinTech Market With Acquisition Of Digital Payments Technology Company Carta Worldwide

Published 2020-11-17, 07:40 a/m
© Reuters.
MOGO
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Nov 17 (Reuters) - Mogo Inc (British Columbia) MOGO.TO :

* MOGO EXPANDS INTO GLOBAL B2B FINTECH MARKET WITH ACQUISITION OF DIGITAL PAYMENTS TECHNOLOGY COMPANY CARTA WORLDWIDE

* MOGO EXPANDS INTO GLOBAL B2B FINTECH MARKET WITH ACQUISITION OF DIGITAL PAYMENTS TECHNOLOGY COMPANY CARTA WORLDWIDE

* MOGO INC - DEAL IN EXCHANGE FOR ISSUANCE OF 10 MILLION COMMON SHARES WHICH IS EQUAL TO A PURCHASE PRICE OF $24.2 MILLION

* MOGO - ALL-STOCK DEAL WITH NO SHARES DISTRIBUTED TO CARTA SHAREHOLDERS UNTIL EARLIER OF MOGO'S 10-DAY VWAP ON TSX REACHING $7.45 OR DEC 2021

* MOGO INC - ON A PRO FORMA BASIS, CARTA SHAREHOLDERS WILL OWN APPROXIMATELY 18% OF MOGO'S FULLY DILUTED SHARES

* MOGO INC - FOLLOWING DEAL COMPLETION, CO WILL INTEGRATE CARTA'S TRANSACTION PROCESSING TECHNOLOGY WITH ITS CURRENT MOGOSPEND PRODUCT

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