Nixxy Expects to Complete an Undisclosed Acquisition by Month-End, Withdraws BTC Financing
Nixxy (NASDAQ:NIXX) has announced the withdrawal of its proposed private offering of up to $50 million in Bitcoin-based, zero-coupon convertible notes. The company's board determined that current market conditions and significant progress in its acquisition strategy made the financing no longer beneficial for shareholders.
The company revealed it is in final negotiations for an acquisition of entities that have generated material revenues and show substantial growth potential. Nixxy expects to complete this acquisition before the end of February 2025, though this timeline is not guaranteed. According to Chairman Evan Sohn, while the Bitcoin-related financing was potentially advantageous, it was deemed incompatible with the company's primary focus on acquiring revenue-producing assets utilizing cutting-edge technology.
Nixxy (NASDAQ:NIXX) ha annunciato il ritiro della sua proposta di offerta privata fino a 50 milioni di dollari in note convertibili zero-coupon basate su Bitcoin. Il consiglio di amministrazione dell'azienda ha determinato che le attuali condizioni di mercato e i progressi significativi nella sua strategia di acquisizione hanno reso il finanziamento non più vantaggioso per gli azionisti.
L'azienda ha rivelato di essere in fase di negoziazione finale per l'acquisizione di entità che hanno generato ricavi significativi e mostrano un sostanziale potenziale di crescita. Nixxy prevede di completare questa acquisizione entro la fine di febbraio 2025, anche se questa tempistica non è garantita. Secondo il presidente Evan Sohn, sebbene il finanziamento legato a Bitcoin fosse potenzialmente vantaggioso, è stato ritenuto incompatibile con il focus principale dell'azienda sull'acquisizione di attivi produttivi di reddito utilizzando tecnologie all'avanguardia.
Nixxy (NASDAQ:NIXX) ha anunciado la retirada de su oferta privada propuesta de hasta 50 millones de dólares en notas convertibles cero cupón basadas en Bitcoin. La junta directiva de la compañía determinó que las condiciones actuales del mercado y el progreso significativo en su estrategia de adquisición hicieron que el financiamiento ya no fuera beneficioso para los accionistas.
La empresa reveló que está en negociaciones finales para la adquisición de entidades que han generado ingresos materiales y muestran un considerable potencial de crecimiento. Nixxy espera completar esta adquisición antes de finales de febrero de 2025, aunque este plazo no está garantizado. Según el presidente Evan Sohn, aunque el financiamiento relacionado con Bitcoin era potencialmente ventajoso, se consideró incompatible con el enfoque principal de la compañía en adquirir activos generadores de ingresos utilizando tecnología de vanguardia.
Nixxy (NASDAQ:NIXX)는 최대 5천만 달러 규모의 비트코인 기반 제로 쿠폰 전환 사채의 제안된 사모 발행을 철회한다고 발표했습니다. 회사 이사회는 현재의 시장 상황과 인수 전략에서의 상당한 진전을 감안할 때, 이 금융이 더 이상 주주들에게 유익하지 않다고 판단했습니다.
회사는 실질적인 수익을 창출하고 상당한 성장 잠재력을 보여주는 기업 인수에 대한 최종 협상 중에 있다고 밝혔습니다. Nixxy는 2025년 2월 말 이전에 이 인수를 완료할 것으로 기대하고 있습니다, 그러나 이 일정은 보장되지 않습니다. 에반 손 회장에 따르면, 비트코인 관련 자금 조달이 잠재적으로 유리했지만, 수익을 창출하는 자산 인수에 대한 회사의 주요 초점과는 맞지 않는 것으로 판단되었습니다.
Nixxy (NASDAQ:NIXX) a annoncé le retrait de son offre privée proposée pouvant aller jusqu'à 50 millions de dollars en obligations convertibles zéro coupon basées sur le Bitcoin. Le conseil d'administration de l'entreprise a déterminé que les conditions actuelles du marché et les progrès significatifs dans sa stratégie d'acquisition rendaient le financement non bénéfique pour les actionnaires.
L'entreprise a révélé qu'elle est en négociations finales pour l'acquisition d'entités ayant généré des revenus matériels et présentant un potentiel de croissance substantiel. Nixxy s'attend à finaliser cette acquisition avant la fin de février 2025, bien que ce calendrier ne soit pas garanti. Selon le président Evan Sohn, bien que le financement lié au Bitcoin ait pu être avantageux, il a été jugé incompatible avec l'objectif principal de l'entreprise d'acquérir des actifs générateurs de revenus utilisant des technologies de pointe.
Nixxy (NASDAQ:NIXX) hat den Rückzug seines vorgeschlagenen privaten Angebots über bis zu 50 Millionen Dollar in Bitcoin-basierten, nullverzinslichen Wandelanleihen bekannt gegeben. Der Vorstand des Unternehmens stellte fest, dass die aktuellen Marktbedingungen und erhebliche Fortschritte in seiner Akquisitionsstrategie die Finanzierung für die Aktionäre nicht mehr vorteilhaft machten.
Das Unternehmen gab bekannt, dass es sich in den finalen Verhandlungen für die Übernahme von Unternehmen befindet, die erhebliche Einnahmen erzielt haben und ein erhebliches Wachstumspotenzial aufweisen. Nixxy erwartet, diese Übernahme bis Ende Februar 2025 abzuschließen, obwohl dieser Zeitrahmen nicht garantiert ist. Laut dem Vorsitzenden Evan Sohn wurde zwar die Finanzierung im Zusammenhang mit Bitcoin als potenziell vorteilhaft erachtet, jedoch als unvereinbar mit dem Hauptfokus des Unternehmens auf den Erwerb von ertragsbringenden Vermögenswerten mit modernster Technologie angesehen.
- Company is in final stages of acquiring revenue-generating entities
- Acquisition target shows substantial growth potential
- Expected acquisition completion by February 2025
- Withdrawal of $50 million Bitcoin-based financing offering
- Unfavorable market conditions noted by management
- No guarantee of acquisition completion
Insights
The withdrawal of Nixxy's
Several critical implications emerge from this announcement:
- The company's pivot away from Bitcoin-based financing suggests a more conservative approach to capital structure, potentially reducing exposure to crypto market volatility.
- The accelerated acquisition timeline indicates strong deal momentum, but the lack of disclosure raises questions about deal terms and valuation.
- The emphasis on "material revenues" and "substantial growth" without specific metrics should be viewed cautiously, as these claims remain unverified.
The timing of these announcements is particularly noteworthy. By withdrawing the financing before securing alternative funding sources, Nixxy may be signaling high confidence in their acquisition target and potential alternative financing arrangements. However, this also introduces execution risk if the acquisition fails to materialize by month-end.
The market implications are complex. While avoiding dilutive crypto-based financing may preserve shareholder value in the short term, the company's ability to fund future growth and complete the pending acquisition without this capital requires careful scrutiny. The Board's decision suggests they've identified either more favorable financing options or a cash-efficient acquisition structure.
NEW YORK, NY / ACCESS Newswire / February 19, 2025 / Nixxy, Inc, (NASDAQ:NIXX), or "Nixxy" or the "Company," today announced it has withdrawn a proposed private offering of up to
The Company's previously discussed business plan to locate an accretive, revenue-generating business or assets for acquisition has come to fruition much more quickly than anticipated. The Company is currently concluding an active transaction negotiation with entities that have generated material revenues and show the promise of substantial growth. The Company expects, but cannot guarantee, closing an acquisition before the end of February.
Evan Sohn, the Chairman of the Nixxy Board, commented, "The previously disclosed Bitcoin-related financing, while potentially advantageous, has been deemed incompatible with the Company's primary focus of acquiring and developing revenue-producing assets utilizing cutting-edge technology. Since then, we have identified and evaluated several promising acquisition opportunities.
About Nixxy
Nixxy is a holding company committed to transforming traditional markets through advanced technology and data-driven insights. By acquiring cornerstone businesses in established industries, and evolving their conventional operations with innovative solutions, Nixxy aims to unlock growth opportunities.
Forward-Looking Statements Disclaimer
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than historical facts, including those related to the proposed convertible notes offering and the potential acquisition, are forward-looking statements. Words such as "anticipates," "believes," "expects," "intends," "plans," and "may" are intended to identify such statements. These statements reflect the Company's current expectations and involve significant risks and uncertainties that could cause actual results to differ materially from those expressed or implied.
There is no assurance that any acquisition will be completed, or that if completed, it will achieve the anticipated synergies, financial results, or operational benefits. Any transaction remains subject to the execution of definitive agreements, customary due diligence, regulatory approvals, and other closing conditions. The withdrawal of the previously announced Bitcoin-based financing should not be interpreted as an endorsement or disapproval of cryptocurrency-related investments, and the Company does not engage in or promote speculative investments in digital assets.
Readers are cautioned not to place undue reliance on these forward-looking statements, as they are subject to various risks, including, but not limited to, general market conditions, regulatory changes, financing availability, and other factors beyond the Company's control. The Company assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities, including any notes or common stock, nor shall any securities be sold in any jurisdiction where such an offer, solicitation, or sale would be unlawful before registration or qualification under applicable securities laws.
Investor Contact
IR@nixxy.com
SOURCE: Nixxy, Inc.
View the original press release on ACCESS Newswire
FAQ
Why did Nixxy (NIXX) withdraw its $50 million Bitcoin-based convertible note offering?
When does Nixxy (NIXX) expect to complete its pending acquisition?
What type of acquisition target is Nixxy (NIXX) pursuing?
How will the withdrawal of Bitcoin-based financing affect Nixxy's (NIXX) acquisition plans?
