FOMO Corp. (OTCPink:FOMC)
As of yesterday’s close, FOMO Corp. (OTCPink: FOMC) stock was trading at $0.0042, up 13.5%. On the day, FOMO stock trades for 50.43M versus 74.45M on an average monthly basis. Following the execution of a stock purchase agreement, the FOMC stock rose.
The repurchase agreement was with whom?
The FOMO company is an incubator and acceleration company for startups. In addition to investing in and advising emerging companies with a growth mandate, FOMC provides advisory services. The FOMC develops direct investments, affiliations, and joint ventures, both of which would allow target companies access to public markets for expansion capital and to create their own stand-alone public companies.
FOMO yesterday announced that it has executed a common stock purchase agreement with a Delaware limited partnership Triton Funds LP.
- Following SEC approval of a Registration Statement, Triton will acquire securities from FOMC valued at $4,000,000.
- In a press release on April 15, 2021, FOMC announced that it would acquire LED Funding IV LLC and Lux Solutions LLC, two of the three entities under agreement for sale by FOMO.
- SmartGuard-Solutions LLC (“SGS”) is the third entity.
- Products for disinfection are marketed and financed by SGS.
- As announced in a press release on May 14, 2021, FOMO plans to acquire 19.99% of SGS.
What is the importance of the agreement to the FOMC?
Triton Funds LP’s commitment to purchase Securities from FOMO for $4,000,000 cannot be overstated. With this investment, FOMC will have the capital it needs to continue executing on its exciting vision for the future.