On November 6, 2024, SMC Entertainment, Inc. announced its acquisition of Bateau Asset Management Pty Ltd.
SMC Entertainment, Inc. (“SMC”) announced, on November 6, 2024, its executed agreement to acquire Bateau Asset Management Pty Ltd. (“Bateau”). Under the terms of the executed agreement, SMC will acquire Bateau in exchange for the issuance of 14,000,000 shares of Series C Preferred Stock and $2,000,000 in convertible promissory notes. Further terms of the transaction were not disclosed.
SMC (OTC PINK: SMCE), based in Boca Raton, Florida, is a holding company focused on acquisition and support of proven commercialized financial services and technology.
Bateau, based in Jandakot, Australia, is a boutique investment manager focusing on a multi-manager approach to investing. As of September 2024, Bateau had approximately $20 million in assets under management.
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