SinglePoint Inc. (OTCPK:SING) entered into a purchase agreement to acquire Frontline Power Solutions, LLC for $0.75 million on April 5, 2022. Under the agreement, SinglePoint Inc. will acquire all of the outstanding membership interests of Frontline Power Solutions, LLC for an aggregate purchase price of $0.75 million, which will be payable through a combination of cash and issuance of shares of common stock upon closing. The closing of the transaction is subject to the satisfaction (or waiver) of certain conditions as of the closing including but not limited to completion of due diligence of Frontline by SinglePoint. The acquisition expected to be strategically and financially accretive with the ability to cross-sell commercial, industrial.

As of August 15, 2022, the parties entered into an amended purchase agreement according to which the transaction will close in two phases. The agreement provides for a two-phase closing of which we the parties have now completed phase one with the initial payments completed and will proceed to phase two. As of August 9, 2022, SinglePoint Inc. (OTCPK:SING) acquired an unknown minority stake in Frontline Power Solutions, LLC.