ALT 5’s transactional processing volume exceeded $1.1 billion in calendar 2023, and over $450 million in Q1 2024
LAS VEGAS, May 10, 2024 /PRNewswire/ — JanOne Inc. (NASDAQ:JAN) announced today that it has executed a Definitive Agreement to acquire blockchain financial technology provider, ALT 5 Sigma Inc., a Delaware corporation, and each of its wholly-owned subsidiaries. The transaction is anticipated to close the week of May 13th, 2024 and is subject to customary closing conditions and regulatory requirements as applicable.
Overview of the transaction
At closing, JanOne will issue to the former stockholders of ALT 5 1,799,100 shares of its common stock, which represents approximately 19.9% of JanOne’s will issue to the outstanding common stock as of May 10, and (ii) 34,207 shares of its Series B non-convertible, non-redeemable preferred stock. At closing ALT 5 Sigma Inc. and its subsidiaries shall become wholly owned subsidiaries of JanOne.
