Onfolio Holdings Inc. Signs Agreement To Acquire Eastern Standard Business

Core Viewpoint - Onfolio Holdings Inc. has announced an asset purchase agreement to acquire a majority interest in Eastern Standard LLC, expecting the deal to close on October 1, 2024 [1] Group 1: Acquisition Details - The acquisition will be facilitated through Onfolio's Special Purpose Vehicle "Onfolio Agency SPV LLC" and an additional SPV "Onfolio Agency SPV 2 LLC" [2] - The purchase price for 90% ownership of Eastern Standard is $2,160,000, with Onfolio investing$410,000 in Series A Preferred Shares and $1,250,000 through two secured promissory notes [4] - Onfolio will own 70$4,000,000 in revenue and $630,000 in unaudited adjusted EBITDA [3] Group 3: Strategic Importance - The acquisition is seen as a platform for further acquisitions targeting both organic and inorganic growth, enhancing Onfolio's capabilities to serve clients and cross-promote services [4] - The company aims to achieve profitability through this acquisition and has several similar acquisition structures planned [5]