Reliance Global Group Signs LOI to Acquire a GPU Cloud Provider, Targeting Rapid Growth in AI Infrastructure
Reliance Global Group signed a non-binding LOI to acquire a GPU cloud provider and marketplace operator, marking its entry into AI infrastructure with a planned rebrand to GPU Exchange and Nasdaq ticker change to XGPU. The deal is structured as all-cash with no shareholder dilution: $3.375 million payable at closing, $375,000 deferred 12 months on milestones, $250,000 in consulting fees, and an optional $500,000 investment. The company says funding is in place and it is debt-free.
Key figures
- Escrow funding
- 375000
- Cash at closing
- 3000000
- Consulting fees
- 250000
- Deferred milestone payment 12mo
- 375000
- Optional investment in seller related company
- 500000
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