M&A - Innovative Payment Solutions, Inc.

Form Type: 8-K

Filing Date: 2025-01-28

Corporate Action: Merger

Type: Termination

Accession Number: 000137647425000117

Filing Summary: Innovative Payment Solutions, Inc. (IPSI) and Business Warrior Corporation (BZWR) mutually agreed to terminate the Agreement and Plan of Merger dated July 28, 2024. The termination reflects both parties' understanding that discontinuing the merger serves their best interests, with no further obligations or liabilities owed by either party as a result. The original merger agreement had intended for IPSI to acquire BZWR, allowing each BZWR common stockholder to receive a conversion into IPSI common stock representing 45% of IPSI's outstanding shares post-merger. The parties had agreed to customary covenants, with conditions including stockholder approvals and regulatory compliance to consummate the merger, which was never finalized.