Upexi, Inc. completed the acquisition of the remaining 45% stake in Cygnet Online LLC for $0.96 million.
September 31, 2023
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Upexi, Inc. (NasdaqCM:UPXI) agreed to acquire the remaining 45% stake in Cygnet Online LLC for $23.4 million on April 12, 2023. Under the terms of the acquisition, Upexi will pay structured cash payments equaling $1.95 million over the subsequent 12 months. Cygnet has sales of over $29.5 million in 2022. The deal will close in the week of 15th May.
Upexi, Inc. (NasdaqCM:UPXI) completed the acquisition of the remaining 45% stake in Cygnet Online LLC for $0.96 million on September 1, 2023. Upexi, Inc. purchased the remaining 45% of Cygnet Online, LLC for $0.5 million cash, 90,909 shares of the Company?s common stock and a $0.3 million cash payment due on September 1, 2024.
Upexi, Inc. is a multi-faceted brand owner with brands in the health, wellness, pet, beauty, and other growing markets. The Company focuses on direct-to-consumer and Amazon brands. The Company utilizes its in-house software-as-a-service (SaaS) programmatic advertising technology to help achieve a lower cost per acquisition and accumulate consumer data for increased cross-selling between its growing portfolio of brands. Its Branded Product segment is focused on the development, growth, and distribution of the branded products that the Company own. Its Recommerce segment is focused on the purchase and sale of new and used products through channels, such as Amazon and wholesale distributors. The Companyâs brands include VitaMedica, Tytan Tiles, and others. VitaMedica offers clinician-originated nutraceuticals and cosmeceuticals products. VitaMedicaâs sales model includes wholesale distribution through surgeons and med spas and direct to consumers through e-commerce and marketplaces.
UPEXI, INC. 
