FC Global Realty Announces Merger with Gadsden Growth Properties to Create an Equity REIT with the Potential to Have More Than $175 Million Gross Asset Value
FC GLOBAL REALTY INC (FCRE)
US:NASDAQ Investor Relations:
quicktake.morningstar.com/stocknet/secdocuments.aspx?symbol=fcre&country=usa
Company Research
Source: Business Wire
WILLOW GROVE, Pa.--(BUSINESS WIRE)-- FC Global Realty Incorporated (OTC Pink: FCRE; TASE: FCRE “FC Global”) and Gadsden Growth Properties, Inc. (a privately-held real estate corporation, “Gadsden”) today announced they have signed a definitive agreement (“Merger Agreement”) to combine their two companies. Under the terms of the Merger Agreement, FC Global will convert from a Nevada corporation to a Maryland corporation. Once the merger is complete, the resulting company will be a publicly traded real estate investment trust (REIT) that is estimated to have more than $175 million in gross assets of real estate investments and shareholder equity of more than $100 million. Gadsden shareholders will own approximately 94% of the FC Global outstanding shares, on a fully diluted basis, if all certain scheduled real estate acquisition opportunities of Gadsden are completed, subject to adjustments as provided in
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