Fenix 360 Pte Ltd. and DUET Acquisition announced a business combination agreement at a $610 million enterprise value. The target is a global social media company incorporated in Singapore that is designed to provide artists and creators with enhanced compensation, tools and control.
The deal is expected to close in the first half of 2024, subject to approvals.
The parties signed a binding letter of intent in July for a merger.
DUET raised $86.25 million in a January 2022 IPO to focus on disruptive change-maker technology enterprises.
Nelson Mullins Riley & Scarborough serves as legal counsel to DUET. Lucosky Brookman is legal counsel to FENIX360. Read more.
