Flash Signs LOI To Acquire 51% Of Nooa Holdings For $51M In Preferred Stock

Purchase Price to Be Paid Entirely in Series A Preferred Stock, Requiring No Cash and No Immediate Issuance of Common Stock at Closing; Acquisition Would Bring Player and Team Hosting In-House Across Flash's Cricket Leagues Transaction would give Flash a 51% controlling interest in a Dubai-based hospitality group, vertically integrating accommodation for players, officials and production crews across the LPL and the planned MT20, SG20 and ZT20 leagues. Consideration of $51 million would be paid entirely in newly created Flash Series A Preferred Stock, requiring no cash and no immediate issuance of common stock at closing; the Series A is expected to carry voting rights and would become convertible beginning 365 days after closing. The proposed transaction is non-binding and remains subject to due diligence, definitive agreements, financing and customary approvals DUBAI, United Arab Em...