Heidmar Inc. agreed to acquire MGO Global, Inc. (NasdaqCM:MGOL) in a reverse merger transaction for approximately $330 million on June 18, 2024. As part of consideration, $330 million will be paid including an earnout payment of $30 million common equity. The transaction is subject to approval of merger agreement by target board, approval of offer by acquirer board, approval of offer by target shareholders and listing / approval of new shares on stock exchange.

The transaction is subject to Antitrust Approval. The deal has been unanimously approved by the boards of directors of both companies. The expected completion of the transaction late in the third quarter of 2024.

Maxim Group LLC is serving as the exclusive financial advisor to MGO in connection with the Merger and Seaborne Capital Advisors is serving as exclusive financial advisor to Heidmar. Ross D. Carmel and Jeffrey P. Wofford of Sichenzia Ross Ference Carmel, LLP is serving as legal counsel to MGO and Keith Billotti of Seward & Kissel LLP is serving as legal counsel to Heidmar. Newbridge Securities Corporation acted as fairness opinion provider to MGO Global, Inc.