Global Bit Ventures merger termination with share-based break-up fee
Company: Marathon Digital
The claim, verbatim
Amended Merger Agreement with Global Bit Ventures expired on June 28, 2018; 3,000,000 common shares approved to be issued as termination fee
Source (primary)
Marathon Digital 10-Q filed 2018-08-14 (SEC EDGAR, sec_filing)
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Quote: “allow the Amended Merger Agreement with Global Bit Ventures, Inc. ("GBV") to expire on its current termination date of June 28, 2018 without further negotiation or extension. The Board approved to issue 3,000,000 shares of the Company's common stock to GBV as a termination fee for the Company canceling the proposed merger”
How we checked this
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Additional evidence
confirms Marathon Digital 10-Q filed 2018-08-14
Quote: “allow the Amended Merger Agreement with Global Bit Ventures, Inc. ("GBV") to expire on its current termination date of June 28, 2018 without further negotiation or extension. The Board approved to issue 3,000,000 shares of the Company's common stock to GBV as a termination fee for the Company canceling the proposed merger”