JanOne Closes Acquisition of ALT 5 Sigma Inc., a Leading Next Generation Blockchain Fintech

Core Viewpoint - JanOne Inc. has successfully completed the acquisition of blockchain financial technology provider ALT 5 Sigma Inc., marking a significant step towards diversification and growth for JanOne [1][3]. Company Overview - JanOne Inc. is a Nasdaq-listed company focused on providing innovative solutions to address the opioid crisis, with a commitment to funding resources for technology and education [6]. - ALT 5 Sigma Inc. is a fintech company established in 2018, offering blockchain-powered technologies for trading, clearing, settlement, payment, and custodianship of digital instruments [2][7]. Acquisition Details - The acquisition involved JanOne issuing 1,799,100 shares of common stock, representing approximately 19.9% of JanOne's outstanding common stock, and 34,207 shares of Series B preferred stock to ALT 5's former stockholders [4]. - ALT 5's transactional processing volume exceeded $1.1 billion in the previous year and was over $450 million in the first quarter of the current year, providing a strong foundation for future growth [3]. Business Platforms - ALT 5 operates two main platforms: "ALT 5 Pay," a cryptocurrency payment gateway, and "ALT 5 Prime," an electronic over-the-counter trading platform, aimed at facilitating a transition to a new global financial paradigm [2][7].