XTL Biopharmaceuticals Ltd. Sponsored ADR (XTLB) has released an update.
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XTL Biopharmaceuticals Ltd. is set to acquire 100% of the issued and outstanding share capital of THE SOCIAL PROXY LTD., making it a wholly-owned subsidiary. The deal involves a cash payment and equity consideration to the current shareholders of THE SOCIAL PROXY LTD. in exchange for 10,813 ordinary shares. This strategic move is approved by both companies’ boards as being in the best interest of their respective shareholders.
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