HotCopper Holdings (ASX: HOT) recently executed a share purchase agreement with Cherubim Investments Corp. to acquire Stockhouse Publishing by purchasing all outstanding shares in Cherubim Investment Corp, Stockhouse’s sole member, for a total price of roughly C$20million. The consideration for the proposed acquisition is being paid by HotCopper through a C$16 million cash payment upon completion; C$2 million through the issue of shares in HotCopper; a further C$1 million in cash payable six months from completion; as well as additional specified payments if Stockhouse’s financial statements for the year ended December 31, 2020 disclose revenue of C$10 million or more. Stockhouse is one of North America’s largest investor communities with over 1 million visitors a month. This acquisition enables both companies to deliver a greater suite of products and services to existing and potential new clients. “With this acquisition we will have the leading media position on two of the world’s largest stock exchanges. It’s a key step in delivering on our vision of a global financial news and investor relations platform for self-directed wealth,” HotCopper Managing Director Jag Sanger stated in the news release.
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HotCopper is Australia’s largest stock trading and investment internet discussion forum with over 250,000 registered members. HotCopper provides a FREE forum for enthusiastic investors to comment on a range of topics including listed companies and IPOs; stocks to buy and sell; share market trading; futures, derivatives, managed funds and foreign currency trading; ASX stock markets; foreign stock markets; politics, sport, betting and more. For more information, visit https://hotcopper.com.au/.
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