Spectrum Global Solutions, Inc. (OTCPK:SGSI.F) completed the acquisition of ADEX Corporation and ADEX Puerto Rico LLC from InterCloud Systems, Inc..
Spectrum Global Solutions, Inc. (OTCPK:SGSI.F) completed the acquisition of ADEX Corporation and ADEX Puerto Rico LLC from InterCloud Systems, Inc. (OTCPK:ICLD) on February 27, 2018. Under the terms of agreement, $5 million includes $3 million in cash of which $2.5 paid at closing and $0.05 million will be retained by Spectrum for ninety days in order to satisfy any outstanding liabilities of ADEX and issuance of convertible promissory note in aggregate of $2 million to InterCloud.