Poda Completes Asset Sale to Altria
Pursuant to a definitive agreement dated May 13, 2022, Poda Holdings has completed the sale of nearly all assets and properties used in its business to Altria Client Services for a total purchase price of $100 million, subject to certain adjustments and h
According to the final agreement dated May 13, 2022, Poda Holdings has completed the sale of nearly all assets and properties used in the company's business to Altria Client Services, with a total purchase price of $100 million, subject to certain adjustments and holdbacks.
Under the asset purchase agreement, Poda will be renamed Idle Lifestyle, and the trading symbol will change to IDLE.X. According to the policies of the Canadian Securities Exchange, the company is expected to trade as an inactive issuer.
Ryan Selby, director, CEO, and chairman of Poda, stated in a statement: "The completion of this sale represents a tremendous effort by the entire Poda team, and I am very proud of what we have achieved."
"I believe this transaction brings the greatest value to the company and its shareholders, and I know our innovative technology is now in the hands of Altria."
