Spectral Capital ( (FCCN) ) has issued an update.
Spectral Capital Corporation has announced its strategic acquisition of Crwdunit Inc., a subsidiary of CrowdPoint Technologies, through a stock exchange agreement. This move, integral to Spectral’s Quantum Bridge initiative, involves the transfer of a proprietary Quantization Mechanism technology that is expected to enhance decentralized cloud infrastructure and resource optimization. The deal, subject to regulatory approvals and due diligence, is set to close by December 10, 2024, and involves the issuance of 3,750,000 common stock shares valued at $15 million. This acquisition underscores Spectral’s commitment to advancing its quantum-ready cloud services and decentralized computing solutions.
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