The Movers

April 30, 2024

DENVER, Colo., Apr 30, 2024 (247marketnews.com)- Brera Holdings (NASDAQ:BREA), AGBA Group Holding Limited (NASDAQ:AGBA), BioRestorative Therapies, Inc. (NASDAQ:BRTX), and Akili, Inc. (Nasdaq:AKLI).

Brera Holdings (NASDAQ:BREA) $1.49 +0.21 (+16.41%) responded to European media reports and Italian fan site posts stating that the Company is actively negotiating to purchase an Italian professional football (soccer) club.

24/7 Market News interviewed famed Investment Banker, Daniel McClory, who took a large position in Brera.

24/7- It appears that you beat everybody to the punch, concerning multi club professional sports team ownership via the public markets. What inspired you to move forward with Brera Holdings?

DM- While I’m passionate about sports, this is a business and the industry has a lot of unrealized upside, so I’m motivated by the economic fundamentals and I think that Brera Holdings is in the right place at the right time.  Listing on Nasdaq as the first Italian football team to do so very early in Brera’s development of the MCO model created the publicly-traded platform to execute on all our other acquisitions, including our current focus on acquiring a Serie B club.

24/7- over the past week or two, I’ve seen Brera’s name mentioned in increasing Italian Media and club fan site reports. How is that progressing and why pick a Serie B club?

While I’m unable to provide any specifics, at this time, I’m more than happy to comment on Italian football’s rich history and culture. Italian professional football tends to be among the best and it’s experiencing a tremendous upswing, as its Serie A already secured one of the two additional UEFA Champions League spots. Serie B is a very strong and desirable league, but developing a Serie B club that’s capable of earning a Serie A promotion is our goal.

24/7- Speaking of landing the first punch, professional sport team ownership is in the midst of a financial sector Renaissance and leading investment banks, like Goldman Sachs and JP Morgan, established professional sports specific investment banking divisions. How will those moves affect the sports ownership and investment market and how do you plan to stay at the tip of the spear?

DM- The sports industry’s economic impact is already substantial, but it’s still growing, so it makes sense for these iconic investment banks to make their move.

As long as we remain true to our mission, democratizing the pro sport ownership opportunity for masses of Nasdaq investors, we should remain ahead of the curve, on many of our initiatives, and, frankly speaking, we plan to slide into the slipstream of some of the significant tailwinds that they’re going to produce, but look for Brera to find and exploit valuation arbitrages every day.

24/7- Deloitte, a leading consultancy firm, predicts that high-value sports properties will reach unprecedented valuations this year, with institutional investors keenly eyeing the industry for potential opportunities. What will it take for the masses to recognize these opportunities that have already captured the attention of many internationally recognized billionaires?

DM- I agree with their take and I’m sure that the projected explosion in interest is factored in their industry predications. Plus, professional sports are one of the most effective avenues for product marketing and sponsorships, which adds fuel to that fire, but I believe that the masses have already taken note and we’re providing an option for this expanding market.

24/7- What changes would you implement over the next year or two for Brera Holdings?

DM- We’re going to continue to push forward with our plan to acquire sports clubs that we believe have significant economic upside and strengthen our MCO strategy, but I think that one of our most important missions for the next two years is to capitalize on the unique convergence of events that should drive soccer’s popularity to the next level, especially in the US.

The Wrexham television series is attracting casual fans and providing a little background into the international professional soccer business, but that’s going to pale in comparison with what’s just around the corner. The US will be the epicenter of the football world, by hosting the 2024 Copa America, the 2025 FIFA Club World Cup, and the 2026 FIFA World Cup, which the experts project will explode the sport’s popularity.

Brera Advisory Board member Alan Rothenberg was in charge of the US hosting of the 1994 World Cup, which is widely considered to be the most successful ever, but this one could outdo that.

Considering that one of our key goals is to turn the growing fan base into our supporters and new stakeholders, I couldn’t think of a better set of upcoming market drivers.

AGBA Group Holding Limited (NASDAQ:AGBA) $2.34 -0.16 (-6.40%) has been very active since agreeing to form a proposed business combination with Triller Corp that will result in a valuation of approximately $4 billion on a pro-forma basis.

Wing-Fai Ng, Group President of AGBA Group Holding, said, “We are confident in AGBA/Triller’s ability to revolutionize the way people use social media and digital financial services – tailored to the ever-changing consumer preference around the world.

“We expect exponential growth in each of our combined five pillars of businesses in 2024 and 2025. The recent announcement of Conor McGregor joining Triller’s BKFC ownership team serves as a prime example of the exciting growth opportunities that lie ahead for all our ventures.”

BioRestorative Therapies, Inc. (NASDAQ:BRTX) reported entering into a five-year exclusive supply agreement with Cartessa Aesthetics, in which BioRestorative agreed to supply pre-set minimum quantities of finished vials of its initial cell-based biologic commercial product to Cartessa annually as private label under Cartessa’s Chronos ExoCR mark.

“Cartessa is known for bringing differentiated, non-invasive technologies to the world’s best aesthetic providers. To that end, we are thrilled to partner with BioRestorative to introduce a novel and proprietary cell-based innovation within this high-demand market category,” stated Founder and CEO of Cartessa, Gabe Lubin. “Upon mutual consent, the companies will also pursue opportunities to bring additional cell-based biologic products to existing and new aesthetics markets, both at home and abroad. We look forward to keeping our customers and the aesthetics industry at large updated as we progress toward making state-of-the art biocosmeceuticals more widely available.”

“We believe this strategic agreement with an established aesthetics market leader like Cartessa validates our cell-based biologics platform and represents a transformative step toward our building a strong commercial engine capable of supporting profitable growth while also helping fund the continued advancement of our clinical, BRTX-100, and preclinical, ThermoStem®, pipeline,” commented Lance Alstodt, BioRestorative’s CEO. “The global aesthetic medicine market size was valued at $127.1 billion in 2023, and that is projected to grow at a CAGR of 14.9% from 2024 to 2030.1 Much of this growth is related to regenerative aesthetics, and therapies containing exosomes and growth factors in particular, which have emerged as a important sub-field of the space.2,3 We see this trend continuing into the future, primarily as a result of social media driving awareness and acceptance, aesthetics service outlets proliferating globally, and new indications gaining meaningful traction. We are looking forward to working closely with Cartessa to build a significant presence for BioRestorative in this large and growing industry.

Akili, Inc. (Nasdaq:AKLI) commented on multiple corporate updates, including revisions to its strategic distribution agreement in which Shionogi & Co. canceled and forgave a $5 million long-term debt obligation and agreed to make certain payments for SDT-001, the Japanese, localized version of Akili’s AKL-T01 digital treatment, marketed as EndeavorRx in the United States. Additionally, Akili will receive an upfront payment of $10.5 million in consideration for the elimination of future royalty payments and certain future milestone payments. Akili will also be eligible to receive up to a total of $4.5 million from Shionogi in consideration of Akili development and support services, with at least $1.5 million of such services fees payable up front, and up to a total of $3.0 million from Shionogi in potential regulatory milestone payments. SDT-001 is currently under marketing approval review in Japan as a potential digital treatment for children and adolescents with attention-deficit/hyperactivity disorder (“ADHD”).

Akili’s board of directors also initiated a process, currently ongoing, to evaluate potential strategic alternatives to maximize shareholder value, in which the board of directors will evaluate, together with its external advisors, a range of potential strategic alternatives.

Furthermore, Akili’s board of directors approved a revised operating plan and budget for the remainder of 2024 that lowers operating expenses, including a 46% workforce reduction.

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