US-listed company JanOne has acquired blockchain financial technology provider ALT 5 Sigma Inc.

JanOne, a US-listed company, announced the acquisition of ALT 5 Sigma Inc., a blockchain financial technology provider, and its subsidiaries and wholly-owned subsidiaries, including its cryptocurrency payment gateway ALT 5 Pay and digital asset over the counter platform ALT 5 Prime. It is reported that the acquisition transaction is expected to be completed in the week of May 13, 2024 and is subject to customary closing conditions and applicable regulatory requirements. The specific acquisition amount has not been disclosed yet. At the time of the acquisition, JanOne will issue 1,799,100 ordinary shares to the former shareholders of ALT 5, accounting for approximately 19.9% of the outstanding ordinary shares that JanOne will issue as of May 10, and 34,207 shares of its Series B non-convertible, non-redeemable preference shares.