tiprankstipranks
Singing Machine Expands with SemiCab Asset Purchase
Company Announcements

Singing Machine Expands with SemiCab Asset Purchase

Don't Miss our Black Friday Offers:

Singing Machine Company (MICS) has provided an update.

The Singing Machine Company and its subsidiary SemiCab Holdings, LLC have entered into an asset purchase agreement with SemiCab, Inc. to acquire most of its assets and certain liabilities, excluding many of SemiCab’s current liabilities. The deal hinges on several conditions, including regulatory approvals, an option agreement for additional acquisitions, a minimum financing transaction, and board appointments. As payment, SemiCab, Inc. will receive shares of common stock and a 20% interest in SemiCab LLC. This move is set to bolster the buyer’s position in the market by integrating SemiCab’s AI and machine learning technology for optimizing shipping and carrier services.

For a thorough assessment of MICS stock, go to TipRanks’ Stock Analysis page.

Related Articles
TipRanks Auto-Generated NewsdeskSinging Machine Board Reshuffle Amidst Strategic Transformation
TipRanks Auto-Generated NewsdeskAlgorhythm Holdings Embarks on Strategic Rebranding and Expansion
TheFlySinging Machine announces corporate rebrand to Algorhythm
Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App