Nexo's acquisition due diligence for Vauld has been extended by 30 days

Chain Catcher news, the crypto lending platform Vauld stated in an email sent to its customers that the due diligence period for Nexo's acquisition of Vauld has been extended by 30 days.

It is reported that on July 5, Nexo signed a non-binding term sheet with its competitor Vauld. Nexo will begin its investigation and plans to acquire up to 100% of Vauld's shares. On August 1, the Singapore High Court granted a three-month creditor protection to Vauld's parent company to ensure that Vauld can smoothly negotiate the acquisition with Nexo. According to a court hearing on Monday, the judge ruled that the creditor protection period will last until November 7. During this period, the company's 147,000 creditors will be prohibited from taking legal action against it. (source link)