NetworkNewsBreaks – ECGI Holdings Inc. (OTC: ECGI) Enters LOI to Acquire Avanta Group
ECGI Holdings (OTC: ECGI) entered into a non-binding letter of intent to acquire Avanta Group, Inc. and its subsidiaries, a proposed transaction intended to build a diversified healthcare platform spanning a developing Medicare Advantage health plan, healthcare management services, health technology, consumer health and supporting real estate infrastructure. Under the letter of intent, ECGI would acquire Avanta for up to 15.6 million newly designated Series V preferred shares, with 20% of the consideration vesting upon execution of a definitive agreement and issued only at closing and the remaining 80% vesting in four equal tranches upon achievement of recurring revenue milestones…
