Xtribe P.L.C. and WinVest Acquisition announced a definitive business combination agreement at an implied equity value of approximately $141 million.
The target is a technology-driven platform that matches sellers of goods and services with local buyers through geolocation.
If approved, the combined company will be renamed Xtribe Holdings Limited and trade on the Nasdaq.
Xtribe’s platform is designed to enable individuals and businesses to easily trade goods and services either online or in-person by creating a virtual marketplace where users can discover, buy, and sell a wide range of products. With a focus on convenience and accessibility, Xtribe said it leverages advanced technologies, such as artificial intelligence and data analytics, to enhance the user experience.
WinVest originally raised $115 million in a September 2021 IPO with plans to target businesses in the financial services industry, with a particular focus on financial media, brokerage, banking, investing, and wealth management.
Chardan is acting as financial and capital markets advisor to Xtribe. Haynes and Boone is serving as legal advisor to WinVest. Cozen O’Connor is US legal counsel to Xtribe. Read more.
