12 Retech Corporation (OTCPK:RETC) signed a definitive exchange of equity agreement to acquire Rune NYC, LLC on February 5, 2019. Rune members representing over 77% of the equity have already agreed to tender their equity to 12 Retech. In 2018, Rune NYC had a revenue of $0.8 million. 12 Retech is leaving the offer open till February 8, 2019 for the rest of the Rune members to agree to tender their equity. As of February 19, 2019, members representing 92.5% of the membership interests have agreed to tender their interests to 12 Retech and the company has closed out the tender offer period. Accordingly, at closing the 12 Retech will acquire 92.5% of the membership interests of Rune in exchange for 82,588 shares of the 12 Retech’s Series D-5 Preferred Stock and the conversion of Series D-5 Preferred Stock is available after the 6-month anniversary of closing. Rune will continue its operations uninterrupted following the closing and will retain key employees. The transaction is subject to certain closing conditions. The target date for the completion of the RUNE acquisition is February 28, 2019.