Singapore-based Fenix 360 Pte Ltd., a global social media company fopcused on tools for artists and creators, signed a binding letter of intent for a merger with DUET Acquisition.
Terms call for Fenix 360 shareholders to receive $600 million or an amount agreed to by the parties and confirmed by the independent fairness opinion provider, and approved by DUET board.
FENIX360 is an artist centric, multi genre social media platform that has been created to help independent artists and creatives monetize their art more lucratively.
DUET raised $86.25 million in a January 2022 IPO to focus on disruptive change-maker technology enterprises. Read more.
