Nixxy Announces CognoGroup Spin-Off Plans
Nixxy (NASDAQ:NIXX) is proceeding with its plan to consolidate assets and liabilities into Atlantic Energy Solutions (OTC:AESO), which will be renamed CognoGroup. This restructuring involves distributing CognoGroup shares to eligible Nixxy shareholders. CognoGroup will focus on AI-driven projects in Work, Personal Growth, Wellness, Finance, and Creativity sectors.
The portfolio includes ventures like CandidatePitch, Mediabistro, AI Exchange, and PrimeGPU. These early-stage businesses carry inherent risks. The spin-out was unanimously approved by Nixxy's Board, with investors representing 75% of outstanding shares waiving participation. The tentative record date for eligible shareholders is October 28, 2024, with an estimated distribution date of January 15, 2025, subject to approvals and conditions.
Nixxy (NASDAQ:NIXX) sta procedendo con il piano di consolidamento di attivi e passivi all'interno di Atlantic Energy Solutions (OTC:AESO), che verrà rinominata CognoGroup. Questa ristrutturazione prevede la distribuzione di azioni di CognoGroup agli azionisti idonei di Nixxy. CognoGroup si concentrerà su progetti guidati dall'IA nei settori del Lavoro, Crescita Personale, Benessere, Finanza e Creatività.
Il portafoglio include iniziative come CandidatePitch, Mediabistro, AI Exchange e PrimeGPU. Queste imprese in fase iniziale comportano rischi intrinseci. La scissione è stata approvata all'unanimità dal Consiglio di amministrazione di Nixxy, con gli investitori che rappresentano il 75% delle azioni in circolazione che rinunciano alla partecipazione. La data di registrazione provvisoria per gli azionisti idonei è fissata per 28 ottobre 2024, con una data di distribuzione stimata per il 15 gennaio 2025, soggetta a approvazioni e condizioni.
Nixxy (NASDAQ:NIXX) está avanzando con su plan de consolidar activos y pasivos en Atlantic Energy Solutions (OTC:AESO), que será renombrada CognoGroup. Esta reestructuración implica la distribución de acciones de CognoGroup a los accionistas elegibles de Nixxy. CognoGroup se enfocará en proyectos impulsados por IA en los sectores de Trabajo, Crecimiento Personal, Bienestar, Finanzas y Creatividad.
El portafolio incluye iniciativas como CandidatePitch, Mediabistro, AI Exchange y PrimeGPU. Estas empresas en etapa temprana conllevan riesgos inherentes. La escisión fue aprobada unánimemente por la Junta de Nixxy, con inversores que representan el 75% de las acciones en circulación renunciando a la participación. La fecha de registro tentativa para los accionistas elegibles es el 28 de octubre de 2024, con una fecha de distribución estimada para el 15 de enero de 2025, sujeta a aprobaciones y condiciones.
Nixxy (NASDAQ:NIXX)는 Atlantic Energy Solutions (OTC:AESO)의 자산과 부채를 통합하기 위한 계획을 진행하며, 이 회사는 CognoGroup으로 이름이 변경됩니다. 이 구조 조정은 Nixxy의 적격 주주에게 CognoGroup의 주식을 배포하는 것을 포함합니다. CognoGroup은 Work, Personal Growth, Wellness, Finance 및 Creativity 분야에서 AI 기반 프로젝트에 집중할 것입니다.
포트폴리오에는 CandidatePitch, Mediabistro, AI Exchange 및 PrimeGPU와 같은 기업이 포함되어 있습니다. 이러한 초기 단계의 사업들은 고유한 위험을 동반합니다. 분할은 Nixxy의 이사회에 의해 만장일치로 승인되었으며, 미결정 주식의 75%를 대표하는 투자자들은 참여를 포기했습니다. 적격 주주를 위한 잠정적인 기록일자는 2024년 10월 28일, 추정 배포일자는 2025년 1월 15일이며, 승인과 조건에 따라 달라질 수 있습니다.
Nixxy (NASDAQ:NIXX) poursuit son plan de consolidation des actifs et des passifs dans Atlantic Energy Solutions (OTC:AESO), qui sera renommée CognoGroup. Cette restructuration implique la distribution d'actions CognoGroup aux actionnaires éligibles de Nixxy. CognoGroup se concentrera sur des projets drivés par l'IA dans les secteurs du travail, du développement personnel, du bien-être, des finances et de la créativité.
Le portefeuille comprend des projets tels que CandidatePitch, Mediabistro, AI Exchange et PrimeGPU. Ces entreprises en phase précoce comportent des risques inhérents. La scission a été approuvée à l'unanimité par le conseil d'administration de Nixxy, les investisseurs représentant 75 % des actions en circulation renonçant à la participation. La date d'enregistrement provisoire pour les actionnaires éligibles est fixée au 28 octobre 2024, avec une date de distribution estimée au 15 janvier 2025, sous réserve d'approbations et de conditions.
Nixxy (NASDAQ:NIXX) setzt seinen Plan zur Konsolidierung von Vermögenswerten und Verbindlichkeiten in Atlantic Energy Solutions (OTC:AESO) fort, das in CognoGroup umbenannt wird. Diese Umstrukturierung beinhaltet die Verteilung von CognoGroup-Aktien an berechtigte Nixxy-Aktionäre. CognoGroup wird sich auf KI-gesteuerte Projekte in den Bereichen Arbeit, persönliche Entwicklung, Wellness, Finanzen und Kreativität konzentrieren.
Das Portfolio umfasst Unternehmungen wie CandidatePitch, Mediabistro, AI Exchange und PrimeGPU. Diese Unternehmen in der frühen Phase bergen inherente Risiken. Die Abspaltung wurde einstimmig vom Vorstand von Nixxy genehmigt, wobei die Investoren, die 75 % der ausgegebenen Aktien repräsentieren, auf eine Teilnahme verzichteten. Das vorläufige Stichtagsdatum für berechtigte Aktionäre ist der 28. Oktober 2024, mit einem geschätzten Verteilungstermin am 15. Januar 2025, vorbehaltlich Genehmigungen und Bedingungen.
- Potential to unlock shareholder value through the spin-off
- Focus on AI-driven projects in high-growth sectors
- Portfolio includes promising ventures like CandidatePitch and AI Exchange
- 75% of outstanding shares waiving participation, benefiting other shareholders
- Inherent risks associated with early-stage ventures in the CognoGroup portfolio
- Uncertainty around final record date and distribution of shares
- Potential regulatory and approval hurdles for the spin-off completion
Insights
The planned spin-off of CognoGroup from Nixxy represents a significant strategic move that could reshape both companies' futures. This restructuring aims to streamline Nixxy's operations while potentially unlocking shareholder value. However, investors should approach this development with caution.
The consolidation of AI-driven assets into CognoGroup creates a focused entity in high-growth sectors like AI and human potential enhancement. This could lead to increased investor interest and potentially higher valuations for these assets. The waiver of participation by 75% of shareholders in the spin-off distribution is particularly noteworthy, as it concentrates the benefit among a smaller shareholder base.
On the flip side, the early-stage nature of CognoGroup's ventures introduces significant risk. The lack of established revenue streams and the uncertainties inherent in AI and tech startups could lead to volatility in CognoGroup's future stock performance. Nixxy shareholders should carefully evaluate their risk tolerance before the tentative October 28, 2024 record date.
The planned January 15, 2025 distribution date provides a timeline for investors to make informed decisions. However, regulatory approvals and other conditions could delay this process, adding another layer of uncertainty to the transaction.
The formation of CognoGroup through this spin-off represents a strategic move to capitalize on the burgeoning AI market. By focusing on key areas like Work, Personal Growth, Wellness, Finance and Creativity, CognoGroup is positioning itself at the intersection of AI and human enhancement - a potentially lucrative but highly competitive space.
The portfolio of AI-driven ventures, including CandidatePitch and AI Exchange, shows promise in addressing real-world applications of AI. However, the success of these ventures will largely depend on their ability to differentiate themselves in an increasingly crowded AI market. The inclusion of PrimeGPU, still in stealth mode, adds an element of intrigue but also uncertainty to the portfolio.
Investors should note that while AI is a hot sector, it's also highly volatile. The success of CognoGroup will hinge on its ability to not just develop cutting-edge AI technologies, but also to effectively monetize and scale these solutions. The company's ability to attract top AI talent and secure necessary computing resources will be important factors to watch.
CognoGroup Spin-Off Update
NEW YORK, NY / ACCESSWIRE / October 18, 2024 / Nixxy (NASDAQ:NIXX) is moving forward with its previously announced plans to consolidate several of its assets and liabilities into Atlantic Energy Solutions (OTC:AESO), which is planned to be renamed CognoGroup ("CognoGroup"). As part of this restructuring, Nixxy will distribute shares of CognoGroup to eligible shareholders, aligning with its strategy to streamline operations and potentially unlock shareholder value.
CognoGroup will focus on AI-driven projects aimed at enhancing human potential. Its core areas of focus include Work, Personal Growth, Wellness, Finance, and Creativity, sectors where AI and intelligent technologies can make meaningful advancements in people's lives.
After the planned spin-out, CognoGroup's portfolio will include several AI-driven ventures designed to empower individuals and industries. These businesses include CandidatePitch, an automated talent marketing tool; Mediabistro, a media industry job board; AI Exchange, a community with over one million members focused on AI discussions; and PrimeGPU, an early-stage venture currently in stealth mode.
As these businesses are still in development, they carry the inherent risks of early-stage ventures, which investors should carefully consider. While CognoGroup is committed to driving innovation and growth, these ventures face uncertainties typical of emerging companies, and potential investors are encouraged to evaluate the associated risks thoroughly before making any investment decisions.
The spin-out is proceeding following a unanimous vote by Nixxy's Board of Directors. Investors representing approximately
The record date for shareholders eligible to receive CognoGroup shares is tentatively set for October 28, 2024. This date is not yet finalized, and shareholders should await official confirmation. Additional details will be provided as they become available. The anticipated share distribution date is estimated to be approximately January 15, 2025, contingent on registrations, regulatory approvals, and other conditions. It is important to note that shares sold short prior to the record date will require the short seller to deliver the distributed spin-off shares to the buyer of the shorted shares.
About Nixxy
Nixxy (NASDAQ:NIXX) is committed to transforming traditional markets through innovative technology and data-driven insights. We acquire cornerstone businesses in established industries, evolving their operations to unlock new potential. Nixxy focuses on sectors ready for digital transformation, using data and technology to drive sustainable growth and redefine conventional business models.
Contact Information
Investor Relations
Nixxy
IR@nixxy.com
https://www.nixxy.com
Forward-Looking Statements Disclaimer
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements, including those regarding Nixxy's business strategy, future operations, acquisitions, financial position, growth prospects, and the CognoGroup spin-out, are based on current expectations and beliefs. However, they involve significant risks and uncertainties that could cause actual results to differ materially from those expressed or implied. Words such as "anticipates," "believes," "expects," "intends," "plans," "will," and similar expressions are used to identify forward-looking statements. These risks and uncertainties include, but are not limited to, changes in regulatory conditions, market volatility, and the Company's ability to execute its business strategy. Nixxy undertakes no obligation to update or revise forward-looking statements, except as required by law.
Any statements regarding potential shareholder value are forward-looking and do not constitute a guarantee of financial gain. Future performance is subject to market conditions and other variables.
The record date and distribution date mentioned are subject to change based on regulatory requirements, unforeseen circumstances, or market conditions.
No Offer or Solicitation Disclaimer
This press release is not intended to and does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor does it constitute a solicitation of any vote or approval. No offer of securities shall be made except by means of a prospectus that meets the requirements of Section 10 of the Securities Act of 1933, as amended.
Risk Factors
Investors should carefully consider the risks associated with Nixxy's business and the spin-out transaction. Investing in Atlantic Energy Solutions, soon to be renamed CognoGroup (OTC: AESO), carries significant risks. As a company undergoing strategic changes with a limited operating history, CognoGroup's financial outlook and operations are subject to substantial uncertainty. Additionally, OTC-listed securities often have less liquidity, higher volatility, and fewer publicly available details compared to exchanges like the NYSE or NASDAQ. This may increase the risk profile for potential investors.
It is essential to understand that the information provided is not an endorsement or recommendation for investment. Investors are strongly urged to conduct thorough due diligence, review all disclosures and filings available on the OTC Markets website, and consult with a qualified financial or legal advisor to assess whether investing in CognoGroup aligns with their financial goals and risk tolerance.
The waiver of participation by certain investors is based on their own strategic considerations and should not be interpreted as a reflection of CognoGroup's future performance or valuation.
Remember that all investments carry risk, including the potential loss of principal. Investing in smaller or emerging companies like CognoGroup may involve heightened risks and uncertainties.
Trademarks and Intellectual Property
All trademarks, service marks, and trade names mentioned are the property of their respective owners.
Investor Contact Information
For more information, please refer to Nixxy's filings with the SEC, available at www.sec.gov, or contact Investor Relations at IR@nixxy.com.
SOURCE: Nixxy, Inc.
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FAQ
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