Mad Paws Holdings Limited acquired Waggly Club for AUD 3.5 million.
June 07, 2021
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Mad Paws Holdings Limited (ASX:MPA) entered into a binding agreement to acquire Waggly Club for AUD 3.5 million on June 8, 2021. Under the terms of agreement, AUD 2 million will be paid in cash on completion, AUD 1 million in Mad Paws fully paid ordinary shares as deferred consideration to be issued on June 28, 2021. The Share Consideration will be issued at an issue price of AUD 0.25 per share and up to AUD 0.5 million will be payable in cash after completion subject to the Waggly Club business achieving agreed revenue-based performance hurdles during the period commencing on completion and ending on December 31, 2022. The Waggly Club acquisition is not subject to conditions and is expected to be completed on June 8, 2021.
Mad Paws Holdings Limited (ASX:MPA) completed the acquisition of Gassett Group Pty Ltd on June 8, 2021.
Mad Paws Holdings Limited (Mad Paws) is an Australia-based company engaged in the pet services and products business. The Mad Paws marketplace matches and connects pet owners seeking pet care services, such as pet sitting, walking, day care and grooming, with pet sitters, walkers and other pet service providers, vetted and registered by Mad Paws. Mad Paws is leveraging its community to build a network that delivers other products and services to this community, including healthy human grade pet food through Dinner Bowl and toys and treats, through its Waggly brand. It operates an online only e-commerce division offering pet healthcare, prescription medicine, pet treats and specialty items to improve the everyday life of Australian pets, with brands including Pet Chemist, Waggly, Dinner Bowl and Sash beds. It enables pets to live their lives to the fullest, supporting owners through all stages of the pet lifecycle. The Mad Paws pet ecosystem supports over 300,000 active pet owners.