Ideanomics (NASDAQ: SSC) Announces Transaction with Liberty Biopharma Inc. (TSXV: LTY.V) - as part of their combined strategy to Deliver Life Sciences and Green Tech Asset Digitization via HooXi
Published: Sep 13, 2018
NEW YORK, /PRNewswire/ -- Ideanomics (Seven Stars Cloud Group, Inc.) (NASDAQ: SSC) ("Ideanomics" or the "Company"), a leading global fintech and asset digitization services company focused on digital asset production and distribution, is pleased to announce a transaction with Liberty Biopharma (TSXV: LTY.V) (http://www.libertybiopharma.com/) in order to deliver asset digitization for green, clean tech, medical and healthcare industries. Liberty owns CTC Life Sciences, which includes HooXi, acquired officially by Liberty on Aug 31, 2018. Liberty intends to change its name to HooXi.
HooXi's plans for asset digitization include but are not limited to asset backed securitization and tokenization, digital asset offerings and AI enhanced ratings. The focus of asset digitization and securitization is for cash flowing assets such as new energy-based power generation facilities, environmental protective waste treatment centers, medical equipment leasing financing as well as medical intellectual property.
As part of this combined asset digitization strategy and HooXi's vision as the "green tech, clean tech, and medical health care flagship", the transaction involves a share for share swap between SSC and Liberty, for Common shares at market value and Performance shares at market value, based on revenue and EBITDA earn-outs.
Bruno Wu, Chairman and Co-CEO of Ideanomics, "Our agreement creates an unprecedented opportunity for Ideanomics to enter into the strategic industries of life sciences, and clean tech / green tech. These industries are critical to the environmental sustainability and are reflective of the types of high-grade asset classes that deserve to be brought into the rapidly forming new digital economy. We are proud to do so alongside the leadership of HooXi. We believe that HooXi is a strong company with great growth potential, and that our proposed transaction will be complimentary to our Ideanomics strategy in asset digitization, and beneficial to our shareholders."
"HooXi is a strong company with the ability to rapidly grow. Medical and green technologies are industries that our shareholders are passionate about and that we seek to further service by bringing investment grade digital assets to market," said Norman Tsui, CEO of Liberty BioPharma Inc.
Ideanomics (Seven Stars Cloud Group, Inc.), (NASDAQ: SSC) (http://www.ideanomics.com/)
Ideanomics is determined to become one of the most prominent global digital asset providers. Relying on its core base of fintech and digital asset production and services-based ecosystem enablement, Ideanomics is committed to delivering the best digital assets via the best underlying technology. This approach will drive capital formation and sales across our digital asset ecosystems.
Ideanomics customizes its technology platform for various business use cases, operates the Platform-as-a-Service (PaaS), and partners with businesses that deliver core digital asset products.
We are focused on delivering a global multi-layer technology infrastructure ecosystem that issues, trades, and settles digital asset transactions. We will leverage direct sales channels and automated sales systems via digital asset exchange platforms which is inclusive of decentralized exchanges to realize digital asset distribution, social media, traditional regulated broker dealer network as well as institutions as direct clients.
About Liberty Biopharma Inc.
Liberty Biopharma is a medical digital technology and biopharmaceutical company active in global strategic partnerships and in-licensing of technologies and assets for rapid growth and high value solutions.
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SOURCE Ideanomics (Seven Stars Cloud Group, Inc.)
Company Codes: NASDAQ-SMALL:SSC, TorontoVE:LTY