Eightco Announces the Cancellation of the Forever 8 2022 Merger Earnout Consideration

May 7, 2024

https://www.globenewswire.com/news-release/2024/05/07/2876742/0/en/Eightco-Announces-the-Cancellation-of-the-Forever-8-2022-Merger-Earnout-Consideration.html

Easton, PA, May 07, 2024 (GLOBE NEWSWIRE) — Eightco Holdings Inc. (NASDAQ:OCTO) (the “Company” or “Eightco”) today announced that the former owners (“F8 Members”) of Forever 8 Fund, LLC (“Forever 8”) have agreed, effective as of March 17, 2024, to cancel their right to receive certain earnout consideration provided for under the September 2022 Membership Interest Purchase Agreement between the Company and Forever 8 (“Earnout”) whereby the Company acquired Forever 8. The Earnout was fair valued at $6.1 million and had a potential cash value of up to $37 million.

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