Seeking Alpha 2021-12-01 15:35:00

CoinShares agrees to acquire French FinTech firm Napoleon Crypto

Crypto firm CoinShares International (OTCPK:CNSRF +0.3%) is acquiring French FinTech firm Napoleon Crypto and its subsidiaries for €13.93M. Pursuant to a sale and purchase agreement signed on November 30, 2021, CoinShares agreed to acquire entire issued share capital in Napoleon Crypto in a transaction that will settle via a combination of cash and a partial equity swap with the issuance of 363,636 new ordinary shares at €10.8/share. CoinShares will own the intellectual property and existing contracts relating to the business. The transaction is expected to complete in the second week of December. Upon completion, all of Napoleon's team and assets will become part of CoinShares, leveraging CoinShares' technology, market infrastructure, and market presence to further accelerate platform growth. The acquisition is part of the CoinShares' growth strategy to continue expanding its in-house technology and platforms to reach new markets with new products.

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