Refined Terms of the Viewbix and Quantum X Labs Acquisition
Tel Aviv, Israel - Viewbix Inc. (Nasdaq: VBIX) has recently announced revised proposed terms for its strategic acquisition of Quantum X Labs Ltd. This exciting development emphasizes the partnership's commitment to innovation in ad-tech, particularly as the market increasingly shifts towards quantum technologies.
Details of the Updated Term Sheet
The updated non-binding term sheet illustrates a strategic refinement, reducing Viewbix's initial equity stake to 40% of its post-closing capital stock. This move is part of a broader strategy that includes a PIPE financing option valued at $3 million, meant to cover the initial share issuance while acquiring 100% of Quantum's fully diluted share capital.
Performance-Based Milestones
A key feature of this acquisition is the performance-based earn-outs that could see Viewbix issue additional shares, maximizing up to 65% of its total capital stock. These earn-outs hinge upon successfully meeting specific milestones:
Milestone One: Completion of Prototype Phase 1
Upon completing Prototype Phase 1, an additional 6% of equity could be issued if Viewbix successfully collaborates with a recognized quantum hardware provider or files a relevant patent within 18 months of the acquisition closure.
Milestone Two: Completion of Prototype Phase 2
Upon completing Prototype Phase 2, Viewbix could release another 8% in shares with validation from a technical partner or by filing an additional patent within 30 months post-closure.
Final Milestone: Beta Testing
Finally, an additional 11% could be issued after successful beta testing with partners, or upon filing yet another patent within 36 months of the acquisition's closure. These significant performance-based targets are designed to align collective goals while ensuring that shareholders see tangible benefits.
Path Toward Completion
Finalizing this acquisition is contingent upon due diligence, execution of definitive agreements, regulatory approvals, and adherence to Nasdaq rules requiring stockholder approval. Viewbix seeks to cultivate a partnership that fosters innovation while enhancing shareholder value amid a transformative phase within the sector.
CEO's Insight on the Acquisition
Amihay Hadad, CEO of Viewbix, shared insights on these refined terms, stating, "These updated terms align our incentives with performance and enhance shareholder value while preserving the growth potential tied to Quantum’s groundbreaking technology." His enthusiasm reflects Viewbix's ambition of being at the forefront of innovative solutions that leverage quantum advancements.
Recent Developments in Viewbix's Strategy
In addition to this acquisition announcement, Viewbix has been proactive in its organizational transformation, including the recent divestiture of Cortex Media Group. This strategic move is part of a broader plan to accelerate growth and secure an additional $3 million in premium pricing financing, expected to close in the following month. These developments illustrate the company’s strong positioning within the burgeoning fields of quantum and AI technologies.
About Viewbix Inc.
Viewbix, through its subsidiaries, is involved in developing cutting-edge digital advertising solutions. Gix Media Ltd. delivers technological software solutions that optimize and automate internet campaign strategies, routing user traffic efficiently. At the same time, Metagramm Software Ltd. provides advanced grammatical error correction tools utilizing artificial intelligence, enhancing writing and reviewing processes through innovative technology. This dedication to quality and innovation positions Viewbix at the leading edge of digital advertising.
Investor Relations Contact
For more inquiries regarding investment opportunities and in-depth analysis, contact:
Michal Efraty
Investor Relations
michal@efraty.com
Frequently Asked Questions
What is the main benefit of the new acquisition terms for Viewbix?
The revised terms focus on performance-based earn-outs, aligning incentives while maximizing shareholder value.
What is the total potential equity that may be issued under the new terms?
Viewbix may issue additional shares that could amount to 65% of its total capital stock based on performance milestones.
What is the significance of the PIPE financing in this acquisition?
The PIPE financing of $3 million supports the initial equity stake in Quantum by providing necessary funds during the acquisition process.
How does the acquisition of Quantum X Labs align with Viewbix's strategic goals?
This acquisition aims to enhance Viewbix’s capabilities in quantum technologies, positioning the company for future growth in innovative ad-tech.
Who can I contact for further information about Viewbix's investor relations?
Inquiries can be directed to Michal Efraty via email at michal@efraty.com.
