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ASX-listed DomaCom Restricted have introduced that it has entered an settlement with property co-ownership market operator Bricklet to offer a $3 million mortgage along with an settlement to take a position $1 million into DomaCom by way of a personal placement, completion of which is topic Bricklet being happy with its due diligence investigations on DomaCom, with due diligence to be accomplished by 2 February 2024.
The capital injection might be directed in the direction of the total reimbursement of the $2,450,000 presently as a consequence of current convertible noteholders on 1 February 2024.
As well as, Domacom is contemplating the potential acquisition of Bricklet and has entered a time period sheet with Bricklet to hold out due diligence as a part of the method of negotiating a possible acquisition by DomaCom.
Potential strategic acquisition primarily based on shared targets
The potential combining of the 2 companies would purpose to enhance the product choices accessible to buyers by way of fractional property investing. The shared purpose of permitting buyers to achieve publicity to bigger inaccessible asset would purpose to drive the enterprise ahead. The flexibility to share sources, experience, information and distribution networks could be more likely to carry vital advantages to DomaCom’s stakeholders and would purpose to assist to safe their place because the market chief in Fractional Investing.
DomaCom CEO John Elkovich commented, “We’re excited by the synergistic advantages which may be realised by a mixed DomaCom/Bricklet enterprise. Each teams are obsessed with making it simpler for buyers to genuinely diversify their asset portfolios. They each permit buyers entry to property investments beforehand solely accessible to high-net-worth buyers, due to the ability of fractional investing platforms. Bringing the companies collectively will present the chance to carry to market a extra numerous product providing,”
Bricklet Chairman Giuseppe Porcelli mentioned, “Uniting our strengths, DomaCom and Bricklet embark on a transformative journey, unlocking new horizons in fractional property investing. This strategic acquisition displays our shared dedication to empower buyers with entry to beforehand inaccessible belongings.
“Collectively, we won’t solely develop product choices but in addition create a synergy that enhances our collective impression. By becoming a member of forces, we carry forth a diversified product vary, breaking boundaries for buyers and reinforcing our place as leaders within the Fractional Investing panorama.”
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