M&A - RDE, Inc.
Form Type: 10-K
Filing Date: 2025-03-31
Corporate Action: Acquisition
Type: New
Accession Number: 000164117225001500
Filing Summary: For the fiscal year ended December 31, 2024, Giftify, Inc. underwent a significant transformation following the acquisition of CardCash Exchange, Inc. on December 29, 2023. This acquisition was executed under a merger agreement on August 18, 2023, for a total consideration of $26,682,000, which included 6,108,007 shares of Giftify’s common stock, cash payments, and notes payable. The integration of CardCash has altered Giftify's financial standing and expanded its opportunities, both internally and externally. The company primarily operates in the restaurant deals sector through Restaurant.com and the gift card exchange market via CardCash, which buys and sells unused gift cards from over 1,100 retailers. CardCash's innovative approach and strong brand recognition have positioned it well for growth, particularly within the projected $400 billion gift card market by 2026. The management team from CardCash has joined Giftify, bringing valuable expertise to further enhance operational strategies and brand focus.
Document Link: View Document
Additional details:
Business Description: Giftify operates in the restaurant deal sector and gift card exchange market.
Acquisition Details: Giftify acquired CardCash for $26,682,000 including stock, cash, and notes payable.
Strategic Growth Plans: Growth plans include increasing the number of branded exchange partnerships.
Financial Impact: The acquisition has changed Giftify's financial profile and market position.
Cardcash Services: CardCash offers trading of gift cards, facilitating sales for consumers and B2B solutions.
Social Responsibility Initiatives: CardCash actively engages in fundraising efforts and supports charitable organizations.
Management Changes: Leadership from CardCash has integrated into Giftify's management team.
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