AlphaTON Reveals LOI To Buy 51% Of Forbes Media, Stock Jump 20% In Pre-Market

(RTTNews) - AlphaTON Capital Corp.(ATON), a digital asset technology company, announced on Monday that it has submitted a letter of intent to acquire a 51% of Forbes Media Holdings, a major media brand.  

In a two-phase acquisition, AlphaTON Capital intends to buy 51% of Forbes Media Holdings and its subsidiaries in the first phase. Upon the closing of the Phase 1, the company plans to consider acquiring the remaining percentage of issued and outstanding shares of FMH equity.

Post transaction, AlphaTON aims to leverage the media brand for verified AI data licensing, verifiable and accurate financial news, and anchor a new global digital assets news organization.

Brittany Kaiser, CEO of AlphaTON Capital, said: "By combining Forbes' legendary brand equity with our blockchain-based verification technologies, we can pioneer a new model for media integrity."

ATON was up by 20.17% at $3.57 in the pre-market trade on the Nasdaq.