Signing Day Sports Executes Stock Purchase Agreement with Swifty Global: Acquisition Agreement Indicates Growth Potential

Signing Day Sports, Inc. (NYSE American: SGN) has recently entered into a Stock Purchase Agreement (SPA) to acquire a majority stake of 99.13% in the issued and outstanding capital stock of Dear Cashmere Group Holding Company, operating as Swifty Global. The agreement, dated January 28, 2025, signifies a strategic move for Signing Day Sports towards boosting their growth prospects.

Swifty Global, a renowned global online sports and casino technology company, reports a robust financial performance with revenues exceeding $128 million and a net profit of approximately $2.44 million for the fiscal year ending December 31, 2023. The company’s stronghold in revenue generation and profitability, combined with its optimal strategies for global expansion and development of new revenue-generating technologies, aligns well with Signing Day Sports’ vision for growth in emerging markets across Europe, Africa, and the Middle East.

The SPA entails Signing Day Sports acquiring the common and preferred stock of Swifty Global from Sellers James Gibbons and Nicolas Link, representing 99.13% ownership. Following the completion of the acquisition, Swifty Global will operate as a subsidiary of Signing Day Sports, and the financials of Swifty Global will be integrated into the operations of Signing Day Sports.

James Gibbons, CEO of Swifty Global, expressed enthusiasm for the acquisition, highlighting the collective effort to build a solid business foundation and aiming to achieve remarkable success in the future. Under the terms of the transaction, Gibbons is set to assume the role of Chief Executive Officer of Signing Day Sports post-acquisition.

The agreement further details the conversion of preferred stock issued to the Sellers into common stock following shareholder approval and clearance of an initial listing application with Nasdaq. Post-closing, Signing Day Sports will hold a shareholder meeting to endorse the stock conversion and elect a new board of directors, representing a significant step towards organizational restructuring and synergy between the companies.

The strategic move towards the acquisition of Swifty Global outlines a promising partnership between the two entities, focusing on leveraging technologies and expanding operations globally. Both Signing Day Sports and Swifty Global are undertaking necessary steps to meet closing conditions, regulatory approvals, and ensure successful integration post-acquisition.

For more information on the terms and conditions of the acquisition, interested parties can refer to the Form 8-K filing by Signing Day Sports with the U.S. Securities and Exchange Commission (SEC) on January 29, 2025. The advisory team for the transaction includes Maxim Group LLC as the exclusive financial advisor to Swifty Global, Lucosky Brookman LLP, and Bevilacqua PLLC as legal counsels for Swifty Global and Signing Day Sports, respectively.

Investors and shareholders are advised to note the forward-looking statements in the press release, acknowledging the risks and uncertainties associated with such transactions and developments in the business landscape.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Signing Day Sports’s 8K filing here.

Signing Day Sports Company Profile

Signing Day Sports, Inc, a technology company, engages in developing and operating platforms to give student-athletes the opportunity to go to college and continue playing sports. The company offers Signing Day Sports, a sports recruitment platform that help athletes get discovered and recruited by coaches and recruiters across the country.