Splitit Pursues Split From The ASX
Splitit Ltd (SPT AU) will seek approval from shareholders to delist the Buy Now, Pay Later micro-play from the ASX and redomicile to the Cayman Islands.
Concurrent with the voluntary delisting proposal, PE outfit Motive Partners will pump in US$50mn in exchange for preference shares - assuming the delisting occurs and certain earnings targets are met.
This is not an Offer for shares. If delisted, Splitit shareholders will hold scrip in an unlisted private vehicle.
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