SurgePays, Inc. acquired Equipment and Operations of ClearLine Mobile for $2.5 million.
January 08, 2024
Share
SurgePays, Inc. (NasdaqCM:SURG) acquired Equipment and Operations of ClearLine Mobile for $2.5 million on January 5, 2024. The consideration to be paid for Clearline Mobile?s assets consisted of an upfront payment of $0.1 million at the signing of the Purchase Agreement, a payment at closing of the Purchase Agreement of $0.8 million, a payment due 90 days after the closing of an additional $0.8 million and a final payment due 180 days after the closing of an additional $0.8 million for a total consideration of $2.5 million.
SurgePays, Inc. (NasdaqCM:SURG) completed the acquisition of Equipment and Operations of ClearLine Mobile on January 5, 2024.
SurgePays, Inc. is a technology and telecommunications company, which is focused on the underbanked and underserved communities. The Company provides mobile broadband to low-income consumers nationwide. Its segments include Mobile Virtual Network Operators, Comprehensive Platform Services and Lead Generation. Mobile Virtual Network Operators segment provides mobile broadband (internet connectivity), voice and SMS text messaging to both subsidized and direct retail prepaid customers through its subsidiaries, SurgePhone Wireless, LLC and Torch Wireless, LLC. Comprehensive Platform Services segment provides financial technology and a wireless top-up platform to independently owned convenience stores throughout the country via its subsidiaries, SurgePays Fintech, ECS Prepaid, LLC, Electronic Check Services, Inc. and Central States Legal Services, Inc. Lead Generation segment provides lead generation and case management solutions, primarily to the law firms in the mass tort industry.
SURGEPAYS, INC. 
