Frontier Digital Ventures (FDV) has announced that it has distributed just over two million additional shares to subscribers of InfoCasas, reconciling a discrepancy in the number of shares issued to InfoCasas in June 2023.
2,030,336 shares were released at an approximate price of USD 0.368 per share.
InfoCasas executives Ricardo Frechou (CEO), Guillermo Tavidian (CTO), and Martin Coulthurst COO) previously agreed to convert 50% of their cash earn-out consideration into FDV equity during the acquisition process of both InfoCasas and Encuentra24.
FDV consists of several market-leading marketplace businesses across Latin America, Asia and the Middle East. The company saw flat revenue growth and improved EBITDA in its Q1 financial results released in April, while its Latin American division remains under strategic review as the company consider the future of its most powerful asset.
Watch Online Marketplaces' interview with Ricardo Frechou below:
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