Vauld rejected Nexo’s final offer of acquisition.
Co-founder’s private letter mentioned about the rejection of the offer.
Volume stands at $7.131 billion, falling by 14%.
Vauld, a crypto lending firm, rebuffed the long-standing acquisition offer from Nexo, which was under consideration since last July. Nexo being the larger competitor, has received a private letter from Vauld’s co-founder, about the fact that his company would reject the final proposal put forward by Nexo.
The proposal was rejected due to the inability of Nexo to respond to the appraisal queries for the solvency evaluation that would provide guarantee to the creditors. Nexo’s declared redemption from the US implies that the creditors in the country have no grounds for complaint if the company messes up.
Nexo has yet to publish a financial structure regarding its capacity to bridge the $400 million void in Vauld’s income statement. Vauld was among the several companies to file for Chapter11 Bankruptcy afte
We współpracy z: https://www.thecoinrepublic.com/2023/01/08/nexo-to-relinquish-vauld-can-prices-hold-up/
