Sumoto will divide the existing activity as part of the merger with Nostromo – the capital market

After being announced in December 2020

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And Nostromo on a binding merger agreement (when in fact Nostromo will become Sumoto) while waiving Sumoto’s existing operations, Sumoto announces that it will divide its current operations (video and audio advertising) as a dividend by transferring operations to a subsidiary and listing on a stock exchange as a new IPO. IPO) through a prospectus. In this way, the decision will be made to split into two companies: Nostromo and a company that will concentrate Sumoto’s existing activities and assets.

As mentioned, according to the merger agreement, Sumoto will invest approximately $ 10.3 million in Nostromo, which is approximately 21.5% of the holding in Nostromo, which will receive approximately 73.4% of Sumoto’s share capital, so that upon completion of the transaction, Sumoto shareholders will hold approximately 25% Of the merged company.

It was also determined that at the time of completion of the transaction, Nostromo will have $ 2.5 million in cash, and Nostromo will be free of any debt except for current debts not to exceed $ 150,000. Following the completion of the transaction, Nostromo is expected to have approximately $ 12.8 million.

Shuki Abramovich, Chairman of Sumoto: “Sumoto’s existing business, and especially its audio business is growing, which stems from the company’s technology implementation in a growing number of sites around the world and in various languages ​​as well as the collaboration with Amazon and Google, and the launch of Octopus product that uses Trinity’s audio content. On platforms such as Amazon Alexa, Apple News, Spotify and others and all using the company’s content management system, we believe that the listing for trading of this activity could flood significant value to shareholders.