NameSilo

NameSilo Technologies Corp. Enters into Letter of Intent to Sell NameSilo LLC

Labeled as domains in Domain Industry News, started by equity78, Dec 3, 2020

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  1. equity78

    equity78 Top Member TheDomains Staff TLDInvestors.com PRO VIP ★★★★★★★★★★

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    VANCOUVER, BRITISH COLUMBIA - TheNewswire – Dec 2 , 2020 – NameSilo Technologies Corp. (CSE:URL) (CNSX:URL.CN) PINKSHEETS (OTC :URLOF) (the “Company”) is pleased to announce that it has entered into a non-binding letter of intent (the “Letter of Intent”) with WGH Holdings B.V. (the “Buyer”) whereby the Buyer, subject to the entry into a definitive agreement, will acquire all of the Company’s interest in NameSilo LLC.

    The transaction consideration will be approximately US$ 30 Million (the “Consideration”). The total consideration was based on a revenue multiple of 1.2 from the estimated 2020 financial year end. Of the Consideration, US$ 15 Million will be paid on closing and the remaining US $15 Million will be satisfied by three annual deferred payments of US$ 5 Million each (the “Deferred Payments”). As the Company currently owns 81.5% of NameSilo LLC, its gross consideration under the transaction is anticipated to be US $24.45 Million.

    The Deferred Payments will also be secured by the units of NameSilo LLC. In the event of default by the Buyer, the membership interest in NameSilo LLC will be returned to the Company.

    The Buyer will have 60 days to carry out its financial and legal due diligence of NameSilo LLC and, in consideration of which, NameSilo has granted exclusivity to the Buyer.

    NameSilo LLC CEO Kristaps Ronka states: “We believe that this potential transaction is a natural evolution for NameSilo and we want to ensure our loyal clients that our team will continue to manage and drive the NameSilo business post-transaction and will continue to work tirelessly to provide our customers with best in class services and support for the years to come.”

    https://stockhouse.com/news/press-r...rs-into-letter-of-intent-to-sell-namesilo-llc
     
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  2. CJ6

    CJ6 My favorite movies are too offensive now. Whimps. VIP

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    Think the buyer wants to buy my crappy names? I'd accept regular payments.
     
  3. Mister Funsky

    Mister Funsky Top Contributor VIP

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    Is this the right entity?

    WGH Holdings B.V.
    Company Number 80798543
    Company Type Besloten Vennootschap
    Netherlands
     
  4. equity78

    equity78 Top Member TheDomains Staff TLDInvestors.com PRO VIP ★★★★★★★★★★

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    Yes
     
  5. Samer

    Samer Top Contributor VIP

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    URLOF is their stock which trades OTC Mkts.
    Below is one day chart; stock reacted badly?
    What happened? Is NS stock buy at 20 cents?
    28DE2149-E52D-4982-8890-D0C1EE69C3D5.jpeg
     
    Last edited: Dec 3, 2020
  6. Jv1999

    Jv1999 Spamming Exo: Dark Merc of the Exo-Tower VIP

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    Why is namesilo selling off? It's one of the top registrars that domainers trust.
     
  7. karmaco

    karmaco Top Contributor VIP

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    Selling off again.
     
  8. DirkS

    DirkS Pretty In Orange VIP

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    Newly formed holding, on the board another Dutch financial holding. Curious to see where the trail ends.

    The Dutch taking over the world? Evil geniuses :)
     
  9. DigitalRoar

    DigitalRoar Investor & Creator VIP

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    Hmm, why do they have a parent company also named namesilo that for some reason owns petroleum companies?
     
  10. Mytz.com

    Mytz.com Top 4L [email protected] ieie.com CuTu.com NeSu.com QAMI.com PRO VIP Gold Account

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    Another Internet gathering has come into being
     

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