Stater Blockchain Limited entered into a letter of intent to acquire Hashcove Limited on January 5, 2018. Long Blockchain Corp. (NasdaqCM:LBCC) entered into a definitive agreement to acquire Hashcove Limited from the shareholders for £9.7 million on March 15, 2018. The consideration will be paid through common stock of Long Blockchain. The Company will issue 0.53125 million shares of common stock of Long Blockchain to the Shareholders. Additionally, the Shareholders may earn up to an aggregate of 1.533750 million of additional shares of common stock of Long Blockchain. Current shareholders of Hashcove will own 4.9% of the combined entity, at closing. In addition, current shareholders of Hashcove can increase their ownership to 17.1% of the combined entity based on certain milestones. Upon closing, Hashcove will become a wholly-owned subsidiary of Long Blockchain. Post-acquisition, Kunal Nandwani will become an Executive Officer and Director of Long Blockchain. The transaction is subject to customary closing conditions. The deal has been approved by Board of Directors of Long Blockchain and is expected to close in second quarter of 2018. David Miller and Jeffrey Gallant of Graubard Miller acted as legal advisor and Oliver Harker of Weightmans LLP to Long Blockchain. Long Blockchain Corp. (OTCPK:LBCC) cancelled the acquisition of Hashcove Limited on September 14, 2018. On September 14, 2018, Long Blockchain and the shareholders of Hashcove entered into a letter agreement pursuant to which the parties mutually terminated the agreement.