AEM Holdings Ltd (SGX:AWX) entered into an equity purchase agreement to acquire DB Design Group, Inc. for $3.3 million on July 22, 2020. The consideration shall be satisfied through a combination of payment of cash of approximately $2.7 million and issuance of shares in AEM Holdings Ltd worth $0.6 million. The cash consideration is to be satisfied in three stages over the next three years through upfront cash payment of $1.9 million, a one year holdback of $0.2 million and a three year performance earn out of $0.6 million based on targets and milestones achieved. The acquisition and cash consideration will be funded through internal resources. The acquisition and cash consideration are not expected to have any material impact on the net tangible assets per share and earnings per share of the DB Design Group, Inc. for the financial year ending 31 December 2020. For fiscal year 2019, DB Design reported a net profit of $184,273 (SGD 255,000). As of September 2, 2020, AEM Holdings has received the in-principle approval from the Singapore Exchange Securities Trading Limited for the listing and quotation of 262,960 new ordinary shares in the capital of the company to be issued at $2.3 (SGD 3.17) per consideration share in connection with the acquisition. On September 17, 2020, AEM Holdings issued and allotted 262,960 ordinary shares in the capital of the company at SGD 3.17 per consideration share in connection with the acquisition of DB Design. The consideration shares are expected to be listed and quoted on the Official List of the Singapore Exchange Securities Trading Limited on or about September 23, 2020.