DeFi Technologies to Acquire Protos


September 29, 2021

On August 12, 2021 DeFi Technologies Inc. announced that it will acquire Protos Asset Management GmbH.

Under the terms of the transaction, DeFi Technologies Inc. (“DeFi”) will acquire Protos Asset Management GmbH (“Protos”). DeFi will issue 7,500,000 shares of common stock at a deemed price of $1.48 per share to shareholders of Protos upon closing. The newly issued shares will be subject to an initial three-month lock-up period, and will then be released in equal quarterly tranches over two years. Further terms of the deal were not disclosed.

DeFi, based in Toronto, is an investment firm specializing in decentralized finance and the management of digital assets.

Protos, based in Baar, Switzerland is a hedge fund focusing on cryptocurrencies.

To read the press release, please click here.

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