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Multicorp International Inc. (OTC: MCIC) Stock In a Range: Company Formalizes Agreement to LBO Bitcoin

Jon Williams

This morning it is going to be interesting to see if there is any interest in the Multicorp International Inc. (OTC: MCIC) stock in light of the developments from last Friday. At the time, it emerged that the company was locked in talks with regards to a major purchase with 40 Brightwater LLC. In this feature, we are going to take a closer look.

The Discussions

The company announced that it was in talks with Brightwater with regards to the purchase of Bitcoin tokens worth $25 million. However, more pertinently, the acquisition would be made through a leveraged buyout structure, and the structure in question would be funded by a correspondent bank loan through Edward Capital NA LLC. In the news release, Multicorp International also stated that the initial $25 million investment would be the first of many diversified assets that the company would acquire.

Further Information

Multicorp International also referred to the announcement it made earlier this month with regards to a collateralized loan from Edwards Capital’s correspondent bank that will be made to Brightwater. The money would be used for the purpose of completing certain targeted acquisitions. It remains to be seen if the stock gets any traction today.

Jon Williams

Jon graduated from the University of Michigan with a degree in finance. He is an avid investor and enjoys reporting on the markets. When he is not in front of a computer he enjoys playing golf and watching basketball.