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Innovative Payment Solutions (IPSI) has provided an update.
Innovative Payment Solutions, Inc. (IPSI) has signed a Merger Agreement to acquire Business Warrior Corporation, with Business Warrior becoming a wholly-owned subsidiary of IPSI post-merger. Stockholders of Business Warrior will receive IPSI common stock, amounting to 45% of IPSI’s outstanding shares post-closure. The agreement includes standard representations, warranties, and covenants from both parties, with no post-closing indemnification obligations. The completion of the merger is subject to customary conditions, including stockholder approvals and regulatory clearances. Concurrently, IPSI has restructured its leadership, appointing William D. Corbett as Executive Chairman and Richard Rosenblum as the new “principal executive officer,” leaving the CEO position unfilled.
For a thorough assessment of IPSI stock, go to TipRanks’ Stock Analysis page.