GRILLiT Inc. Announces the signing of an LOI to merge with Primior
GRILLiT Inc. (OTC PINK: GRLT) has signed a Letter of Intent (LOI) to merge with Primior Inc., a private equity real estate investment firm. The merger aims to create a diversified holding company focused on investing in and acquiring innovative businesses. This strategic move aligns with GRILLiT's vision to transform into a multi-dimensional business involved in real estate financings, corporate spin-outs, management buyouts, recapitalizations, industry consolidations, and early-stage financings.
The merger is expected to bring significant business expertise in real estate investments, tokenization, and blockchain technology to GRILLiT. The deal values Primior at $30 million and is anticipated to close in the late 3rd Quarter of 2024. This strategic shift is seen as a pivotal moment for GRILLiT, providing access to greater resources for acquisitions and product development.
GRILLiT Inc. (OTC PINK: GRLT) ha firmato una Lettera di Intenti (LOI) per fondersi con Primior Inc., una società di investimento immobiliare di private equity. La fusione ha l'obiettivo di creare un holding diversificata concentrata su investimenti e acquisizione di aziende innovative. Questa mossa strategica è in linea con la visione di GRILLiT di trasformarsi in un'azienda multidimensionale coinvolta in finanziamenti immobiliari, spin-off aziendali, buyout di gestione, ricapitalizzazioni, consolidamenti del settore e finanziamenti per le fasi iniziali.
Si prevede che la fusione porti a GRILLiT un'esperienza significativa nel settore degli investimenti immobiliari, nella tokenizzazione e nella tecnologia blockchain. L'accordo valuta Primior 30 milioni di dollari ed è previsto che si chiuda nella tarda terza trimestre del 2024. Questo cambiamento strategico è visto come un momento cruciale per GRILLiT, fornendo accesso a risorse più consistenti per acquisizioni e sviluppo di prodotti.
GRILLiT Inc. (OTC PINK: GRLT) ha firmado una Carta de Intención (LOI) para fusionarse con Primior Inc., una firma de inversión inmobiliaria de capital privado. La fusión tiene como objetivo crear una compañía holding diversificada centrada en invertir y adquirir empresas innovadoras. Este movimiento estratégico está alineado con la visión de GRILLiT de transformarse en un negocio multidimensional involucrado en financiamientos inmobiliarios, escisiones corporativas, compras por parte de la administración, recapitalizaciones, consolidaciones industriales y financiamientos en etapas tempranas.
Se espera que la fusión aporte a GRILLiT una gran experiencia empresarial en inversiones inmobiliarias, tokenización y tecnología blockchain. El acuerdo valora a Primior en 30 millones de dólares y se prevé que se cierre en el último trimestre de 2024. Este cambio estratégico es considerado un momento clave para GRILLiT, proporcionando acceso a mayores recursos para adquisiciones y desarrollo de productos.
GRILLiT Inc. (OTC PINK: GRLT)는 사모펀드 부동산 투자 회사인 Primior Inc.와 합병하기 위한 의향서(LOI)를 체결했습니다. 이 합병의 목표는 혁신적인 비즈니스에 투자하고 인수하는 데 중점을 둔 다각화된 지주 회사를 만드는 것입니다. 이 전략적 움직임은 GRILLiT의 비전인 부동산 금융, 기업 분할, 경영 매수, 재자본화, 산업 통합 및 초기 단계 금융 사업에 참여하는 다차원 사업으로의 전환과 일치합니다.
합병은 부동산 투자, 토큰화 및 블록체인 기술에 대한 상당한 비즈니스 전문성을 GRILLiT에 가져올 것으로 예상됩니다. 이 거래는 Primior를 3천만 달러로 평가하며, 2024년 3분기 말에 마무리될 것으로 보입니다. 이 전략적 변화는 GRILLiT에 대한 중요한 순간으로 여겨지며, 인수 및 제품 개발을 위한 더 많은 자원에 접근할 수 있도록 합니다.
GRILLiT Inc. (OTC PINK: GRLT) a signé une Lettre d'Intention (LOI) pour fusionner avec Primior Inc., une société d'investissement immobilier en capital-investissement. La fusion vise à créer une société holding diversifiée axée sur l'investissement et l'acquisition d'entreprises innovantes. Ce mouvement stratégique s'inscrit dans la vision de GRILLiT de se transformer en une entreprise multidimensionnelle impliquée dans les financements immobiliers, les spin-offs d'entreprise, les rachats de direction, les recapitalisations, les consolidations sectorielles et les financements de stade précoce.
On s'attend à ce que la fusion apporte à GRILLiT une expertise commerciale significative dans les investissements immobiliers, la tokenisation et la technologie blockchain. L'accord valorise Primior à 30 millions de dollars et devrait se conclure à la fin du 3e trimestre 2024. Ce changement stratégique est considéré comme un moment clé pour GRILLiT, offrant un accès à des ressources plus importantes pour les acquisitions et le développement de produits.
GRILLiT Inc. (OTC PINK: GRLT) hat ein Absichtserklärung (LOI) unterzeichnet, um sich mit Primior Inc., einer Private-Equity-Immobilieninvestmentgesellschaft, zu verschmelzen. Die Fusion zielt darauf ab, ein diversifiziertes Holdingunternehmen zu schaffen, das sich auf Investitionen in und Erwerb innovativer Unternehmen konzentriert. Dieser strategische Schritt entspricht der Vision von GRILLiT, sich in ein multidimensionales Unternehmen zu verwandeln, das sich mit Immobilienfinanzierungen, Unternehmensspin-outs, Management-Buyouts, Rekapitalisierungen, Branchenkonsolidierungen und Frühphasenfinanzierungen beschäftigt.
Es wird erwartet, dass die Fusion GRILLiT signifikante Geschäftsexpertise in Immobilieninvestments, Tokenisierung und Blockchain-Technologie bringt. Der Deal bewertet Primior mit 30 Millionen Dollar und soll im späten 3. Quartal 2024 abgeschlossen werden. Dieser strategische Wandel wird als ein Wendepunkt für GRILLiT betrachtet, da er den Zugang zu größeren Ressourcen für Akquisitionen und Produktentwicklung ermöglicht.
- Merger with Primior Inc. valued at $30 million
- Expansion into real estate investments and blockchain technology
- Access to greater resources for acquisitions and product development
- Diversification of business model into multiple financial sectors
- Potential integration challenges merging two different business models
- Execution risks associated with expanding into new business areas
- Possible shareholder dilution due to merger structure
The merger is intended to create a diversified holding company in the business of creating value for shareholders through investing in and acquiring businesses that are innovative, have a responsible approach to risk management, and offer tangible solutions to global challenges.
These are the principles that Primior Inc. was founded upon and match the vision of GRILLiT. Both parties, Primior Inc. & GRILLiT Inc. believe that merging will provide the strength and resources to execute an aggressive growth strategy. This merger further supports the transformation of GRILLiT into a multi-dimensional business that participates in real estate financings, corporate spin-outs, management buyouts, recapitalizations, industry consolidations, and early-stage financings.
The merger will allow GRILLiT to add significant business expertise and management from the team at Primior in real estate investments, tokenization, blockchain technology, as well as access to greater resources to fuel acquisitions and product development.
"This strategic shift marks a pivotal moment for GRILLiT," said Greg Mitchell, CEO of GRILLiT. "I was impressed by the execution and expansion that Primior has successfully done since 2012 as they embrace innovation, diversification, and future technology that will provide a fresh outlook for our future."
The LOI outlines the key terms of the proposed merger, which values Primior at 30M and is expected to close in the late 3rd Quarter of 2024.
About Primior
Primior is an innovative real estate private equity investment firm established in 2012, headquartered in Newport Beach. It manages over
About GRILLiT Inc.
GRILLiT is undergoing a comprehensive brand redesign to reflect our evolution into a diversified holding company and move beyond traditional brick and mortar retail locations and launch new products using the latest technology that demonstrates its commitment to developing a strong business strategy in industries with sustainable revenue streams while tapping into the real estate development markets.
Press Release Disclaimer
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by the use of the words "may," "will," "should," "plans," "expects," "anticipates," "continue," "estimates," "projects," and "intends," and similar expressions. Forward-looking statements involve risks and uncertainties that could cause results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, the Company's ability to successfully execute its expanded business strategy, including by entering into definitive agreements with suppliers, commercial partners, and customers; general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, delays in completing various engineering and manufacturing programs, changes in customer order patterns, changes in product mix, continued success in technical advances and delivering technological innovations, shortages in components, production delays due to performance quality issues with outsourced components, regulatory requirements and the ability to meet them, government agency rules and changes, and various other factors beyond the Company's control.
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SOURCE GRILLiT Inc.
FAQ
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