On December 29, 2021, Enterprise Diversified, Inc. and CrossingBridge Advisors, LLC announced their agreement to merge.
Under the terms of the agreement, Enterprise Diversified, Inc. (“Enterprise”) will merge with CrossingBridge Advisors, LLC (“CrossingBridge”). Upon completion of the deal, both companies will be subsidiaries of a new holding company, ENDI Corp. The transaction, subject to customary closing conditions, is expected to close in the first or second quarter of this year. Further terms were not disclosed.
Enterprise, based in Richmond, Virginia, is an investment management firm specializing in partnerships with alternative asset managers.
CrossingBridge, headquartered in Pleasantville, New York is a registered investment adviser. As of December 31, 2018, CrossingBridge and its affiliates had approximately $2.2 billion in assets under management.
To read the press release: please click here.