GlobeNewswire Inc. · Nov 28, 2023
Fenix 360 Pte Ltd. To Go Public Through Merger With DUET Acquisition Corp. to Create a Global Social Media Platform
NEW YORK, Nov. 28, 2023 (GLOBE NEWSWIRE) -- Fenix 360 Pte Ltd (“FENIX360”), a global social media company incorporated in Singapore that is designed to provide artists and creators with enhanced compensation, tools and control, and DUET Acquisition Corp. (NASDAQ: DUET) (“DUET”), a special purpose acquisition company incorporated in Delaware, announced today that that they have entered into a business combination agreement (the “Business Combination Agreement”), pursuant to which DUET will acquire 100% of the outstanding equity interests of FENIX360 (the “Transaction”). The Transaction is expected to be completed in the first half of 2024, subject to regulatory approvals and other customary closing conditions. The Transaction values FENIX360 at a $610 million enterprise value.
