FFI Holdings PLC acquired Pivotal Post from Kevin Hyman for $13.5 million on February 28, 2017. Under the terms of agreement, FFI Holdings paid the total consideration for this acquisition in the amount of $4 million and future yearly earn out payments between 2017 and 2020 (inclusive), subject to Rainbow Production achieving the following EBITDA targets for each relevant financial year: 2017 – $2.5 million; 2018 – $2.6 million; 2019 – $2.7 million; and 2020 – $2.8 million. The earn-out payments amount to the sum of $0.4 million plus 30% of the excess EBITDA over the target specified above (not to exceed $2 million per financial year) less the principal amortization payments under the Hyman Promissory Note of $0.08 million which are paid over monthly installments with the first installment being made on 25 March 2017 and the final installment being on 25 January 2020. In addition, Kevin Hyman would receive an out of the money warrant in the amount of $1.5 million warrant in connection with this acquisition. As a part of transaction, the Chief Executive Officer of Rainbow, Kevin Hyman, has signed an employment contract to remain in his role for a further four years. FFI Holdings PLC completed the acquisition of Pivotal Post from Kevin Hyman on February 28, 2017.