Yinda Infocomm enter into term sheet to acquire Austrian tech business

Felicia Tan
Felicia Tan7/6/2021 12:29 AM GMT+08  • 5 min read
Yinda Infocomm enter into term sheet to acquire Austrian tech business
Shares in Yinda Infocomm last traded at 29.5 cents on July 4, following a trading halt on the morning of July 5.
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Yinda Infocomm has entered into a term sheet with The Institute of Machine Learning GmbH (IML) on July 5, along with IML’s founders, Adam Hegedüs and Roland Trimmel.

Under the term sheet, Hegedüs and Trimmel will incorporate a company in Singapore. Following this, Yinda Infocomm will then subscribe to new shares in the new company (newco).

The newco will acquire the business from IML, where Yinda Infocomm will provide the newco with a convertible loan.

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