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Stockreport

Infighting among fintech players has caused TabaPay to ‘pull out' from buying bankrupt Synapse [TechCrunch]

Alphabet Inc. - Class C Capital Stock (GOOG)  More Company Research Source: TechCrunch
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Synapse says the problem is banking partner Evolve Bank & Trust. And Evolve says it is not involved, and not to blame. Meanwhile, another player in the saga, Mercury, says Synapse allegations have “no merit.” Synapse's counsel declared in bankruptcy court on Thursday that the deal would not be moving forward, Fintech Business Weekly's Jason Mikula shared on LinkedIn . A spokesperson for TabaPay confirmed to TechCrunch on Thursday afternoon that the company had “pulled out,” but did not provide additional details. Synapse CEO and co-founder Sankaet Pathak, however, believes that TabaPay can still be convinced to stay in the deal. He told TechCrunch that his “understanding is that TabaPay is still interested in doing the acquisition, but Evolve has failed to meet their closing condition for TabaPay to be able to close.” That closing condition is that Evolve Bank & Trust must fully fund its FBO accounts and has thus far failed to do so, according to Pathak. FBO stands for “for bene [Read more]
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Stockreport

Infighting among fintech players has caused TabaPay to ‘pull out' from buying bankrupt Synapse [TechCrunch]

Alphabet Inc. - Class C Capital Stock  (GOOG) 
More Company Research Source: TechCrunch
Last alphabet inc. - class c capital stock earnings: 4/28 04:02 pm Check Earnings Report
US:NASDAQ Investor Relations: abc.xyz/investor
Synapse says the problem is banking partner Evolve Bank & Trust. And Evolve says it is not involved, and not to blame. Meanwhile, another player in the saga, Mercury, says Synapse allegations have “no merit.” Synapse's counsel declared in bankruptcy court on Thursday that the deal would not be moving forward, Fintech Business Weekly's Jason Mikula shared on LinkedIn . A spokesperson for TabaPay confirmed to TechCrunch on Thursday afternoon that the company had “pulled out,” but did not provide additional details. Synapse CEO and co-founder Sankaet Pathak, however, believes that TabaPay can still be convinced to stay in the deal. He told TechCrunch that his “understanding is that TabaPay is still interested in doing the acquisition, but Evolve has failed to meet their closing condition for TabaPay to be able to close.” That closing condition is that Evolve Bank & Trust must fully fund its FBO accounts and has thus far failed to do so, according to Pathak. FBO stands for “for bene [Read more]
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