Music VR startup MelodyVR announces plan to merge with Napster
Posted on: 25 août 2020, by : Stuart Dredge

Music-focused virtual reality startup MelodyVR has announced plans to merge with streaming service Napster. To be clear: MelodyVR is the buyer, although the Napster brand will live on.
“Under the terms of the Merger Agreement, a wholly-owned subsidiary of the Company will be merged with and into Napster (with Napster being the surviving entity),” explained MelodyVR’s announcement to the markets this morning.
“The Company will pay consideration totalling approximately $26.3 million to the vendors of Napster to be satisfied in aggregate by $15.0 million in cash, and the issuance of approximately 200 million MelodyVR shares.”
The post Music VR startup MelodyVR announces plan to merge with Napster appeared first on Music Ally.
Source: Music ally

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