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Grow Capital Formally Acquires Bombshell Technologies.

M2 EQUITYBITES-July 31, 2019-Grow Capital Formally Acquires Bombshell Technologies

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31 July 2019 - US-based Grow Capital, Inc (OTC: GRWC) has filed an 8-K with the Securities and Exchange Commission to announce their acquisition of Bombshell Technologies, the company said.

The valuation of Bombshell Technologies was determined by a third party independent auditor to be USD 9.03m. Grow Capital purchased the company in stock for the share price of USD 0.08159 per share, plus possible additional earn-out consideration of as much as USD 3m in additional shares at the same price over the next three years.

The price was determined using the thirty day volume weighted average price calculated through March 12, 2019, the effective date of the letter of intent for the Exchange.

GRWC now owns 100 % of the shares of Bombshell Technologies, a premier software development service provider with a focus on the financial services sector. Bombshell Technologies has operations in both Nevada and Louisiana. Bombshell Technologies provides software to several massive financial services organizations and leads the way on innovative industry-specific solutions for sales teams and management.

Bombshell's current software suite delivers customized back office compliance, sophisticated multi-pay commission processing, and revolutionized new client application submission system, along with digital engagement marketing services centric to financial services.

In June, GRWC announced a stock exchange agreement to acquire Bombshell Technologies.

Bombshell Technologies provides software to several massive financial services organisations and leads the way on innovative industry-specific solutions for sales teams and management.

Grow Capital, Inc will tender shares of its stock for Bombshell Technologies and provide a broad network to help Bombshell gain clients for its suite of software that helps financial services firms manage their practice.

GRWC said this is its first acquisition as the company expands its niche market.

Bombshell's current software suite delivers customised back office compliance, sophisticated multi-pay commission processing, and revolutionised new client application submission system, along with digital engagement marketing services centric to financial services.

Grow Capital, Inc is a publicly traded company listed under the symbol GRWC. Formally Grow Condos, we have announced new leadership, rebranded, relocated our headquarters and have expanded into acquiring and developing the best professional technology and financial services companies.

Bombshell Technologies provides software to several massive financial services organisations and leads the way on innovative industry-specific solutions for sales teams and management.

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Publication:M2 EquityBites (EQB)
Date:Jul 31, 2019
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