Business
Pulse Evolution Announces Opinion Regarding Commencement of Tender Offer by Recall Studios
Pulse Evolution Announces Opinion Regarding Commencement of Tender Offer by Recall Studios.
About this update from Pulse Evolution Corp
[{"type":"text","content":"\nHOBE SOUND, Fla., July 10, 2018 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Pulse Evolution Corporation (OTC:PLFX), a recognized pioneer and leading developer of hyper-realistic digital humans for holographic live performances, virtual reality and augmented reality, today announced its opinion and preliminary support for the proposed acquisition of, and tender offer relating to, a majority interest in Pulse Evolution Corporation (“Pulse” or the “Company”).\n On June 14, 2018, we received correspondence from Recall Studios, Inc. (“Recall Studios”) (OTC:BTOP) regarding its intent to acquire a majority interest in Pulse Evolution Corporation, via the privately and separately negotiated acquisition of Evolution AI Corporation (\"EAI\"), a company controlled by our founder, John Textor.  Recall Studios also advised us of their intent to make a tender offer to the shareholders of Pulse to exchange their shares for Recall Studios shares valued by Recall Studios at $1.38 per Pulse share, following the closing of the acquisition of EAI.  We understand that substantially more than 50% of our current shareholders support the acquisition by Recall Studios, including EAI shares of Pulse controlled by EAI.  EAI previously attempted to acquire a majority interest in Pulse and has since withdrawn its offer in favor of the offer from Recall Studios.  Based on the information provided to us, but subject to a further evaluation of the definitive tender offer, the Board of Directors of Pulse tentatively supports the proposed acquisition and tender offer by Recall Studios.  We will provide a definitive decision following receipt of additional information about the transactions. \"Subject to a careful review of the definitive tender offer terms by Recall Studios provided to date, Pulse and the Board of Pulse, is prepared to recommend to the shareholders to accept the offer submitted by Recall Studios,\" stated Pulse CEO Jordan Fiksenbaum.  Mr. Fiksenbaum continued: “We believe our technologies and our business model to be extremely complimentary with the objectives of Recall Studios.  We also believe our company and our shareholders will benefit greatly from a business combination with a fully reporting public company which has stated that they expect to be eligible following t...