Business

KUSTOM ENTERTAINMENT AND CYCURION ANNOUNCE AGREEMENT ON TERMS FOR SALE OF LEGACY VIDEO SOLUTIONS SEGMENT

TARGET JUNE 30, 2026 CLOSING DATE OVERLAND PARK, KS and MCLEAN, VA, April 17, 2026 (GLOBE NEWSWIRE) -- Kustom Entertainment, Inc. (Nasdaq: KUST) (“Kustom” or the “Company”), and Cycurion, Inc. (Nasdaq: CYCU) today announced they have entered into a revised, non-binding Memorandum of Understanding (“MOU”) that establishes revised terms for the sale of Kustom’s legacy video solutions segment (the “Business”) to Cycurion from the previously announced MOU on January 22, 2026. The parties have moved

articleCycurion, Inc.April 17, 20263/company/cycurion-inc/news/kustom-entertainment-and-cycurion-announce-agreement-on-terms-for-sale-of-legacy-video-solutions-segment-1
KUSTOM ENTERTAINMENT AND CYCURION ANNOUNCE AGREEMENT ON TERMS FOR SALE OF LEGACY VIDEO SOLUTIONS SEGMENT

About this update from Cycurion, Inc.

[{"type":"image","alt":"Kustom Entertainment, Inc.","displaySize":"","headline":null,"caption":"Kustom Entertainment, Inc.","className":"","disableSlideshowImg":false,"size":{"original":{"width":282,"height":92,"url":"https://media.zenfs.com/en/globenewswire.com/3197110da28ddf40ed5981a671ac08a5"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/4AvU68cWkKqOIWs8uih7jQ--/YXBwaWQ9aGlnaGxhbmRlcjt3PTQyMDtoPTEzNw--/https://media.zenfs.com/en/globenewswire.com/3197110da28ddf40ed5981a671ac08a5","width":282,"height":92}},"lazy":false},{"type":"text","content":"TARGET JUNE 30, 2026 CLOSING DATE","length":33,"tagName":"p"},{"type":"text","content":"OVERLAND PARK, KS and MCLEAN, VA, April 17, 2026 (GLOBE NEWSWIRE) -- Kustom Entertainment, Inc. (Nasdaq: KUST) (“Kustom” or the “Company”), and Cycurion, Inc. (Nasdaq: CYCU) today announced they have entered into a revised, non-binding Memorandum of Understanding (“MOU”) that establishes revised terms for the sale of Kustom’s legacy video solutions segment (the “Business”) to Cycurion from the previously announced MOU on January 22, 2026.","length":447,"tagName":"p"},{"type":"text","content":"The parties have moved into the final stage of the transaction, focusing on the completion of definitive documentation. Based on the progress made to date, the parties currently anticipate the transaction will close on or prior to June 30, 2026.","length":245,"tagName":"p"},{"type":"text","content":"Key Transaction Terms ","length":21,"tagName":"p"},{"type":"text","content":"Under the terms of the agreement, the aggregate purchase price is $5,500,000, structured to provide Kustom with immediate liquidity, long-term yield, and equity upside. The consideration consists of:","length":199,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Cash Payment: A $1,250,000 cash down payment payable at closing.","length":64,"tagName":"p"}]},{"val":[{"type":"text","content":"Secured Promissory Note: A $4,250,000 secured promissory note bearing 7% interest, payable in 36 monthly installments.","length":118,"tagName":"p"}]},{"val":[{"type":"text","content":"Equity Upside: The issuance to Kustom of 2,000,000 common stock purchase warrants with a two-year term (beginning after the underlying shares become registered) and an exercise price of $2.80 per share.","length":202,"tagName":"p"}]},{"val":[{"type":"text","content":...

More updates from Cycurion, Inc.

Cycurion, Inc.definitive documentationStanton Rossvideo solutionsdefinitive agreementeconomic terms