Jackspeed Corporation, which listed as a specialized leather seat cover supplier, is undertaking a $10 million reverse takeover of a digital marketing business.

The company, which has since sold off its original core business in early 2020 to its executive deputy chairman and CEO Yap Kian Peng for $48 million, is currently a cash company.

The RTO deal will be funded by issuing new Jackspeed shares tentatively set at 3.2 cents each at a number to be finalized, subject to further adjustments.

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