◆ NeutralKUSTCYCUCYCUW

Kustom Entertainment Closes $6.1 Million Divestiture of Legacy Video Solutions Business to Cycurion

GlobeNewswire Inc.·
Kustom Entertainment Closes $6.1 Million Divestiture of Legacy Video Solutions Business to Cycurion

Kustom Entertainment (KUST) completed the sale of its legacy video solutions business to Cycurion (CYCU) for $6.1 million, consisting of $1.25M upfront cash, a $4.25M secured promissory note at 7% interest, and $600K in 12% yielding preferred equity. The transaction marks Kustom's strategic transformation into a pure-play live entertainment and ticketing technology company, allowing it to focus entirely on expanding its festival operations and proprietary ticketing platforms.

Read Full Article at GlobeNewswire Inc.
← Back to Financial Intelligence