Ryde Enters Into Term Sheet for Strategic Investment in OneT Solutions
Ryde Group signed a non-binding term sheet to acquire an initial 10% minority stake in Singapore cybersecurity firm OneT Solutions, with consideration in cash and newly issued Ryde Class A shares. Ryde holds an option to buy an additional 10% within nine months, potentially reaching 20% ownership. Valuation has not been agreed and remains subject to due diligence, independent valuation, and regulatory approvals.
Key figures
- Deal Value Usd
- 0
- Initial stake pct
- 10%
- Max total stake pct
- 20%
- Exclusivity period days
- 60
- Optional additional stake pct
- 10%
- Definitive agreements target days
- 90
AI analysis
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