Vinco Ventures Inc (NASDAQ:BBIG) continues to move higher in the pre-market session on Monday, extending its Friday’s gain of 26%. BBIG stock is one of the biggest gainers in the past month with a surge of 80%.
Major Trigger:
Vinco Ventures, Inc. Announces Update on Lomotif and ZASH Global Media and Entertainment
Key Highlights:
- On May 28, 2021- announced an update to the ZASH Global Media and Entertainment (ZASH) merger and Lomotif acquisition. The following updates have been provided.
- Vinco and ZASH intend to acquire Lomotif Private Limited (“Lomotif”) through their joint venture, ZVV Media Partners, LLC (the “Joint Venture”);
- The parties have completed an Amended and Restated Limited Liability Company Agreement for the Joint Venture in preparation for the anticipated acquisition of Lomotif through the Joint Venture;
- Gemini Valuation Services will complete and present to Vinco an independent third-party valuation on ZASH on or before June 11, 2021;
- The parties intend to sign a final Agreement and Plan of Merger and Reorganization on or before June 24, 2021; and
- Subject to regulatory and exchange approvals. the parties intend to issue a formal proxy to the Vinco shareholders for the approval of the ZASH merger with Vinco on or before July 15, 2021.
Market Reaction
As of 8:02, BBIG is trading at $4.34, up 3.33%. So far more than 777K shares have exchanged hands.
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