XTL Completed the Acquisition of The Social Proxy and a Private Placement of $1.5 Million
XTL Biopharmaceuticals (NASDAQ: XTLB) has completed the acquisition of THE SOCIAL PROXY , an AI web data company, expanding its IP portfolio. The transaction involved XTL acquiring all of Social Proxy's share capital in exchange for ADSs representing 44.6% of XTL's issued share capital and a $430,000 cash payment. Additionally, XTL completed a private placement of $1.5 million to support growth and financial needs.
Social Proxy will operate as a fully owned subsidiary of XTL, with its shareholders appointing two representatives to XTL's board of directors. This acquisition aligns with XTL's strategy to expand its asset portfolio in high-potential areas, particularly in the AI Web Data market. The move is expected to add significant value to XTL and its shareholders.
XTL Biopharmaceuticals (NASDAQ: XTLB) ha completato l'acquisizione di THE SOCIAL PROXY, un'azienda di dati web basata su AI, ampliando il suo portafoglio di proprietà intellettuale. La transazione ha visto XTL acquisire l'intero capitale sociale di Social Proxy in cambio di ADS che rappresentano il 44,6% del capitale sociale emesso da XTL e un pagamento in contante di $430.000. Inoltre, XTL ha completato un'emissione di azioni private di $1,5 milioni per sostenere la crescita e le esigenze finanziarie.
Social Proxy opererà come una controllata interamente posseduta da XTL, con i suoi azionisti che nomineranno due rappresentanti nel consiglio di amministrazione di XTL. Questa acquisizione è in linea con la strategia di XTL di espandere il suo portafoglio di asset in settori ad alto potenziale, in particolare nel mercato dei dati web AI. Si prevede che questa mossa aggiunga un valore significativo a XTL e ai suoi azionisti.
XTL Biopharmaceuticals (NASDAQ: XTLB) ha completado la adquisición de THE SOCIAL PROXY, una empresa de datos web basada en IA, ampliando su cartera de propiedad intelectual. La transacción involucró a XTL adquiriendo la totalidad del capital social de Social Proxy a cambio de ADS que representan el 44.6% del capital social emitido por XTL y un pago en efectivo de $430,000. Además, XTL completó una colocación privada de $1.5 millones para apoyar el crecimiento y las necesidades financieras.
Social Proxy operará como una subsidiaria de propiedad total de XTL, cuyos accionistas nombrarán a dos representantes en la junta directiva de XTL. Esta adquisición se alinea con la estrategia de XTL de expandir su cartera de activos en áreas de alto potencial, particularmente en el mercado de datos web de IA. Se espera que este movimiento agregue un valor significativo a XTL y sus accionistas.
XTL 바이오파마수티컬스 (NASDAQ: XTLB)가 THE SOCIAL PROXY의 인수를 완료했습니다, AI 웹 데이터 회사로서 지적 재산권 포트폴리오를 확장합니다. 이 거래에서 XTL은 Social Proxy의 전체 주식 자본을 매입하고, XTL의 발행 주식 자본의 44.6%를 대표하는 ADS와 $430,000의 현금 지급으로 교환했습니다. 또한, XTL은 $1.5 백만의 사모 배치를 완료했습니다 성장과 재정적 필요를 지원하기 위해.
Social Proxy는 XTL의 완전 소유 자회사로 운영되며, 주주들이 XTL 이사회에 두 명의 대표를 임명할 것입니다. 이 인수는 높은 잠재력을 지닌 영역에서 자산 포트폴리오를 확장하려는 XTL의 전략과 일치합니다. 특히 AI 웹 데이터 시장에서. 이번 조치는 XTL과 주주들에게 상당한 가치를 더할 것으로 예상됩니다.
XTL Biopharmaceuticals (NASDAQ: XTLB) a complété l'acquisition de THE SOCIAL PROXY, une entreprise de données web basée sur l'IA, élargissant ainsi son portefeuille de propriété intellectuelle. La transaction a impliqué l'acquisition par XTL de l'intégralité du capital social de Social Proxy en échange d'ADS représentant 44,6 % du capital social émis par XTL et d'un paiement en liquide de 430 000 $. De plus, XTL a complété un placement privé de 1,5 million $ pour soutenir sa croissance et ses besoins financiers.
Social Proxy fonctionnera comme une filiale entièrement détenue par XTL, dont les actionnaires nommeront deux représentants au conseil d'administration de XTL. Cette acquisition s'aligne sur la stratégie de XTL d'élargir son portefeuille d'actifs dans des domaines à fort potentiel, en particulier sur le marché des données web basées sur l'IA. Ce mouvement devrait ajouter une valeur significative à XTL et à ses actionnaires.
XTL Biopharmaceuticals (NASDAQ: XTLB) hat die Übernahme von THE SOCIAL PROXY abgeschlossen, einem KI-Webdat Unternehmen, und sein IP-Portfolio erweitert. Die Transaktion bestand darin, dass XTL das gesamte Aktienkapital von Social Proxy im Austausch gegen ADS erwarb, die 44,6 % des ausgegebenen Aktienkapitals von XTL repräsentieren, sowie eine Barzahlung von 430.000 $. Darüber hinaus hat XTL eine Privatplatzierung über 1,5 Millionen $ abgeschlossen, um Wachstum und finanzielle Bedürfnisse zu unterstützen.
Social Proxy wird als Tochtergesellschaft von XTL betrieben, wobei die Aktionäre von Social Proxy zwei Vertreter in den Verwaltungsrat von XTL benennen. Diese Übernahme steht im Einklang mit der Strategie von XTL, sein Asset-Portfolio in Bereichen mit hohem Potenzial, insbesondere im KI-Webdatenmarkt, zu erweitern. Dieser Schritt wird voraussichtlich erheblichen Wert für XTL und seine Aktionäre schaffen.
- Acquisition of THE SOCIAL PROXY expands XTL's IP portfolio into AI Web Data market
- Social Proxy's technology offers 100x faster solution with unlimited IPs compared to market alternatives
- Completed $1.5 million private placement to support growth and financial needs
- Strategic expansion into high-growth AI Web Data market
- Significant shareholder dilution with 44.6% of XTL's share capital issued for the acquisition
- $430,000 cash payment for the acquisition may impact short-term liquidity
Insights
XTL's acquisition of The Social Proxy marks a significant pivot from biopharmaceuticals to AI and web data. This $1.5 million private placement and acquisition deal could be a game-changer for XTL's future growth trajectory. The deal structure, giving Social Proxy shareholders 44.6% ownership and two board seats, suggests a substantial valuation for the AI company. However, the $430,000 cash component seems relatively small, indicating XTL might be cash-constrained. The additional performance-based warrants create potential for further dilution but align interests for growth. Investors should monitor how this strategic shift impacts XTL's existing biopharmaceutical assets, particularly the Lupus treatment IP and whether the company can successfully integrate and monetize the new AI technology.
The Social Proxy's technology appears to be a standout in the crowded AI and web data space. Their claim of being 100x faster than market alternatives with unlimited IPs is bold and, if true, could be a major competitive advantage. The emphasis on ethical data extraction is timely, given increasing scrutiny on data privacy and scraping practices. However, the tech's actual capabilities and scalability remain to be proven in real-world applications. The integration of this technology into XTL's portfolio could open up new revenue streams in AI and Business Intelligence markets. Investors should watch for partnerships, client acquisitions and revenue growth to validate the technology's market potential and XTL's ability to commercialize it effectively.
This acquisition positions XTL in the rapidly growing AI and web data market, estimated to reach
expands its IP portfolio to AI Web Data
The Social Proxy is a web data AI company
developing and powering an IP based platform
for AI & BI Applications at scale
Completed a Private Placement of
RAMAT GAN, ISRAEL, Aug. 14, 2024 (GLOBE NEWSWIRE) -- August 14, 2024, XTL Biopharmaceuticals Ltd. (the “Company” or “XTL”) announced today it has completed the acquisition of THE SOCIAL PROXY Ltd. (the “Social Proxy”), an AI web data company, developing and powering a unique ethical, IP based, proxy and data extraction platform for AI and BI Applications at scale (the “Purchase Agreement”).
Pursuant to the Purchase Agreement, XTL acquired all of the issued and outstanding share capital of Social Proxy on a fully diluted basis (the “Transaction”) in exchange for the issuance by the Company to the shareholders of Social Proxy, by way of a private placement, such number of ADSs of the Company, representing immediately after such issuance,
In addition, as part of the Transaction, the shareholders of Social Proxy were issued additional warrants, which may only be exercised upon reaching certain financial measured milestones within a period of up to three (3) years from the closing of the Transaction.
Social Proxy will operate as fully owned subsidiary of XTL and its shareholders appointed two (2) representatives to the Company’s board of directors out of a total of up to seven (7) directors.
The Transaction, which was approved by the Company’s shareholders, is part of the Company’s strategy to expand its assets portfolio with high potential assets.
In addition and in order to support the growth of Social Proxy and the Company’s financial needs , the Company has consummated its previously disclosed investment of US
Shlomo Shalev, CEO of XTL commented: “We are pleased to add Social Proxy into our asset portfolio. During the past months we have worked closely with Social Proxy team and believe that it will add great value to our company and shareholders. In our search for new IP based assets to acquire, we have identified the AI Web Data as a high growth market and we believe we acquired an excellent technology and team. The completion of the private placement of
Tal Kinger, CEO of Social Proxy commented: “We are very happy to become part of XTL and are confident that working with the XTL team and its management will accelerate our growth and value creation”.
About XTL Biopharmaceuticals Ltd. (XTL)
XTL is an IP portfolio company. The company has IP surrounding hCDR1 for the treatment of Lupus disease (SLE) and has decided, to explore collaboration with a strategic partner in order to execute the clinical trials. In parallel, the Company is actively looking to expand and identify additional IP based assets.
XTL is traded on the Nasdaq Capital Market (NASDAQ: XTLB) and the Tel Aviv Stock Exchange (TASE: XTLB.TA).
About THE SOCIAL PROXY LTD.
Social Proxy is a web data AI company, developing and powering, a unique ethical, IP based, proxy data extraction platform for AI & BI Applications at scale.
The company self-developed, innovative, next-generation proxy technology with unlimited IPs, and 100x faster than any other solution at the market. It does not source other users’ IP and is a real ethical solution.
Cautionary Note Regarding Forward-Looking Statements
This communication contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Any statements contained in this communication that are not statements of historical fact may be deemed forward-looking statements. Words such as “continue,” “will,” “may,” “could,” “should,” “expect,” “expected,” “plans,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” and similar expressions are intended to identify such forward-looking statements. All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, many of which are generally outside the control of the Company and are difficult to predict. Examples of such risks and uncertainties include, but are not limited to, whether the Company will be able to successfully manage and integrate Social Proxy. Additional examples of such risks and uncertainties include, but are not limited to (i) the Company’s ability to successfully manage and integrate any joint ventures, acquisitions of businesses, solutions or technologies; (ii) unanticipated operating costs, transaction costs and actual or contingent liabilities; (iii) the ability to attract and retain qualified employees and key personnel; (iv) adverse effects of increased competition on the Company’s future business; (v) the risk that changes in consumer behavior could adversely affect the Company’s business; (vi) the Company’s ability to protect its intellectual property; and (vii) local, industry and general business and economic conditions. Additional factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements can be found in the most recent annual report on Form 20-F and reports on Form 6-K filed by the Company with the Securities and Exchange Commission. The Company anticipates that subsequent events and developments may cause its plans, intentions and expectations to change. The Company assumes no obligation, and it specifically disclaims any intention or obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by law. Forward-looking statements speak only as of the date they are made and should not be relied upon as representing the Company’s plans and expectations as of any subsequent date.
For further information, please contact:
Investor Relations, XTL Biopharmaceuticals Ltd.
Email: info@xtlbio.com
www.xtlbio.com
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