EFH Group, Inc. completed the acquisition of EFH Group, Inc. in a reverse merger transaction.
November 25, 2014 at 11:00 pm EST
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EFH Group, Inc. signed a binding letter of intent to acquire EFH Group, Inc. (OTCBB:TWYF) in a reverse merger transaction on August 8, 2014. Under the terms, EFH Group, Inc. issued 52.2 million restricted common shares and 5.8 million restricted Class B common shares as consideration. If the closing does not occur on or before December 31, 2014 due to a breach of this agreement by EFH Group, Inc. (OTCBB:TWYF) then EFH Group, Inc. (OTCBB:TWYF) will pay to EFH Group a breakup fee of $0.25 million and if the agreement is not fulfilled by EFH Group, Inc. then EFH Group, Inc will issue to EFH Group, Inc. (OTCBB:TWYF) shares of EFH Group, Inc. common stock representing 5% of the fully diluted equity interest of EFH Group, Inc.
On November 25, 2014, EFH Group, Inc. signed an asset purchase agreement to acquire EFH Group, Inc. (OTCBB:TWYF) in a reverse merger transaction. The deal is subject to execution of ancillary agreements, approval by board of directors and shareholders of both parties, increase in board size of the surviving entity such that EFH Group, Inc. shall increase the size of the board of directors of EFH Group, Inc. (OTCBB:TWYF) by four directors and EFH Group, Inc. (OTCBB:TWYF) along with resignations of all employees not subject to post-closing employment agreements and resignation of its directors as well. Jody M. Walker of J.M. Walker & Associates acted as legal advisor to EFH Group, Inc. Debbie A. Klis of Ballard Spahr LLP acted as legal advisor to EFH Group, Inc. (OTCBB:TWYF).
EFH Group, Inc. completed the acquisition of EFH Group, Inc. (OTCBB:TWYF) in a reverse merger transaction on November 25, 2014.
HUTN, Inc., formerly EF Hutton America, Inc., is a holding company. The Company, through its subsidiary EF Hutton, Inc., is engaged in digital finance and investment services. It offers financial products such as the no commission investments and no commission online trade execution. It also offers value-added services, such as event-driven investing strategies. The Company also provides services through its mobile platform which includes phones and other wireless devices. The Company offers investment services to individuals. It also develops digital products and services and media related products and services. The Company, through its subsidiary EF Hutton Mobile Inc., develops mobile services. The Companyâs subsidiaries also include EF Hutton Investments LLC, EF Hutton Digital Services, Inc. and EF Hutton Media Group Inc.