Innovative Holdings Alliance, Inc. completed the acquisition of the Assets of Premergy, Inc. for $13.5 million.
Innovative Holdings Alliance, Inc. (OTCPK:IHAI) completed the acquisition of the Assets of Premergy, Inc. for $13.5 million on January 18, 2024. Innovative Holdings Alliance acquired assets of Premergy following customary due diligence by both parties in exchange for the issuance of 30,000,000 shares of Innovative Holdings Alliance's common stock to Premergy shareholders, and the assumption of certain Premergy debts. Per the terms of the acquisition, Richard Botts, Premergy's founder and inventor, became the Company's Chief Technology Officer and William Hayde was appointed Chief Executive Officer, following the resignation of M. Chris Winter.