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    360   AU0000045098

LIFE360, INC.

(360)
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Life360, Inc. completed the acquisition of Jio, Inc.

09/02/2021 EDT

Life360, Inc. (ASX:360) entered into a non-binding term sheet to acquire Jio, Inc. for $54.5 million on April 27, 2021. Life360, Inc. entered into a definitive agreement to acquire Jio, Inc. on July 28, 2021. The upfront consideration would be a combination of $21.6 million in Life360 shares, approximately $14.4 million in convertible promissory notes, and $1 million in retention consideration, subject to adjustments at closing for working capital and certain tax modifications. The upfront consideration would amount to $37 million with the possibility that the total consideration increases to $54.5 million if certain performance targets are achieved in the two full calendar years following completion. The additional performance-based consideration would be solely in the form of Life360 shares. The total consideration may result in the issuance of up to approximately 2.42 million shares of Life360. Life360 has provided Jio, Inc with $1 million in investment funding by subscribing for convertible notes, and has agreed to subscribe for $1.5 million in convertible notes on the 60th day following execution of the term sheet and $1.5 million in convertible notes on the 90th day following execution of the term sheet, if the proposed transaction has not closed on the relevant date. On closing of the proposed transaction, the convertible notes would be cancelled, and this funding would form cash consideration, reducing the stock and convertible promissory notes consideration pro-rata. If the proposed transaction does not close the convertible notes will convert into preferred stock of Jio, Inc. The transaction is subject to due diligence, completion of definitive documentation, approval of the Boards of Directors of both Life360 and Jio, Inc., as well as the stockholders of Jio, Inc. There is no guarantee that the proposed transaction will eventuate. The transaction is expected to close shortly. Life360, Inc. completed the acquisition of Jio, Inc. on September 2, 2021. Jiobit will continue to operate under its own brand and will be led by CEO and co-founder John Renaldi. Lisa Conmy, Chris Rasmussen, Tim Voigtman and Trevor Currie of Foley & Lardner acted as legal advisors to Jio, Inc.


ę S&P Capital IQ 2021
All news about LIFE360, INC.
09/28LIFE360 : Former Care.com Marketing Leader Joins Life360 as Chief Marketing Officer
BU
09/28Life360 Appoints Carrie Cronkey as Its Chief Marketing Officer
CI
09/20LIFE360, INC.(ASX : 360) added to S&P Global BMI Index
CI
09/02LIFE360 : Completes Acquisition of Wearable Location Devices Provider
MT
09/02Life360, Inc. completed the acquisition of Jio, Inc.
CI
08/27LIFE360 : Widens H1 Loss on Higher R&D, Sales and Marketing Costs
MT
08/25Life360, Inc. Provides Earnings Guidance for the Year 2021
CI
08/25Life360, Inc. Announces Unaudited Consolidated Earnings Results for the Half Year Ended..
CI
08/24LIFE360 : Launches Free Data Breach Alerts to Support Families this Back to School Season
BU
07/27LIFE360 : Moves Closer to Completing Jiobit Acquisition; Shares Up 3%
MT
More news
Financials (USD)
Sales 2021 110 M - -
Net income 2021 -30,1 M - -
Net cash 2021 37,7 M - -
P/E ratio 2021 -35,9x
Yield 2021 -
Capitalization 1 202 M 1 201 M -
EV / Sales 2021 10,6x
EV / Sales 2022 7,31x
Nbr of Employees -
Free-Float 93,6%
Chart LIFE360, INC.
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Technical analysis trends LIFE360, INC.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 4
Last Close Price 9,91 AUD
Average target price 10,47 AUD
Spread / Average Target 5,63%
EPS Revisions
Managers and Directors
Christopher Hulls Chief Executive Officer & Director
Alex Haro President & Director
Russell J. Burke Chief Financial Officer
John Philip Coghlan Chairman
Samir Kapoor Chief Technology Officer
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