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Name | Symbol | Market | Type |
---|---|---|---|
Troika Media Group Inc | NASDAQ:TRKAW | NASDAQ | Equity Warrant |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.0046 | 0.0005 | 0.0075 | 0 | 01:00:00 |
Building on Redeeem’s digital blockchain capabilities, TMG intends to integrate their products across its media services and will work with new and existing brands to offer non-fungible token (NFT) capabilities, crypto payment APIs, mobile payment expertise, and other revenue-generating products capable of deploying digital tokens throughout TMG's expansive network of brands. TMG is adding 10 new employees in the purchase of Redeeem, including founder and CEO Kyle Hill who brings 5+ years of experience in blockchain and 15+ years of experience in tech startups, having served for eight years as the founder/CEO of HomeHero, a home care marketplace that raised $23 million from Social Capital, Graham Holdings, Tencent, Science and others in 2016 and was acquired in 2018 by William Yarmuth, former CEO of Almost Family (AFAM). Since its inception in 2018, Redeeem has processed over $10 million in crypto payments and manages over $1 million a month in trading volume.
“We believe this is a game-changing transaction for both companies and achieves unique and complementary strategic objectives of taking the Company into the new digital era," said Robert Machinist, Troika’s Chairman and CEO. "The acquisition of Redeeem increases our ability to significantly grow revenue and strategic opportunities to enhance the core businesses of TMG by immediately positioning the Company as a go-to expert in the NFT and crypto space, particularly in our sports, gaming, and entertainment business, where we will provide brands new opportunities to foster fandom through NFT integration. The combined offering of TMG’s existing portfolio of services, extensive client network, and operational scale with Redeeem’s highly innovative platform, supports our long-term strategic vision of utilizing transformative technology to create additional revenue opportunities for the global brands we partner with every day.”
Strategic Benefits of the Transaction
Transaction Details
About Troika Media Group
Troika Media Group is an end-to-end brand solutions company that creates both near-term and long-term value for global brands in entertainment, sports and consumer products. Applying emerging technology, data science, and world-class creative, TMG helps brands deepen engagement with audiences and fans throughout the consumer journey and builds brand equity. Clients include Apple, Hulu, Riot Games, Belvedere Vodka, Unilever, UFC, Peloton, CNN, HBO, ESPN, Wynn Resorts and Casinos, Tiffany & Co., IMAX, Netflix, Sony and Coca-Cola. For more information, visit www.thetmgrp.com
About Redeeem
Redeeem is the first enterprise-grade fintech platform that empowers businesses to digitize any asset and build their own blockchain-based payment solutions. Redeeem offers escrow, liquidity, custody, research, development, and other digital services to help build a new, open financial system. Redeeem provides a fast, safe and easy way to earn 20% discounts or more on fungible goods using bitcoin. We connect traders from all around the world using a non-custodial wallet and peer-to-peer exchange with no banks or fiat currencies. For more information, please visit www.redeeem.com
Forward-Looking Statements
Certain statements in this press release that are not historical facts are forward-looking statements that reflect management's current expectations, assumptions, and estimates of future performance and economic conditions, and involve risks and uncertainties that could cause actual results to differ materially from those anticipated by the statements made herein. Forward-looking statements are generally identifiable by the use of forward-looking terminology such as "believe," "expects," "may," "looks to," "will," "should," "plan," "intend," "on condition," "target," "see," "potential," "estimates," "preliminary," or "anticipates" or the negative thereof or comparable terminology, or by discussion of strategy or goals or other future events, circumstances, or effects. Moreover, forward-looking statements in this release include, but are not limited to, the impact of the current COVID-19 pandemic, which may limit access to the Company's facilities, customers, management, support staff, and professional advisors, and to develop and deliver advanced voice and data communications systems, demand for the Company's products and services, economic conditions in the U.S. and worldwide, and the Company's ability to recruit and retain management, technical, and sales personnel. Further information relating to factors that may impact the Company's results and forward-looking statements are disclosed in the Company's filings with the SEC. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company disclaims any intention or obligation, other than imposed by law, to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
Contact:
For Troika Media Group
Kevin Aratari
kevin@troikamedia.com
Investor Relations
TraDigital IR
Kevin McGrath
+1-646-418-7002
kevin@tradigitalir.com
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