Vinco Ventures, Inc. acquired remaining 50% stake in ZVV Media Partners, LLC from ZASH Global Media and Entertainment Corporation. for $62 million.
December 18, 2022
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Vinco Ventures, Inc. (NasdaqCM:BBIG) acquired remaining 50% stake in ZVV Media Partners, LLC from ZASH Global Media and Entertainment Corporation on December 19, 2022.
Vinco Ventures, Inc. (NasdaqCM:BBIG) completed the acquisition of remaining 50% stake in ZVV Media Partners, LLC from ZASH Global Media and Entertainment Corporation for $62 million on December 19, 2022. Vinco Ventures issued 10 convertible Series B Preferred Stock (which shall be convertible into 144 million common shares of ZVV Media Partners, for which issuance will be subject to Nasdaq rules). The purchase price also includes the deemed satisfaction of all outstanding indebtedness and other obligations owing from ZASH Global Media to ZVV Media Partners or the ZVV Media Partners , including, without limitation, pursuant to the Promissory Note issued by ZASH Global Media to ZVV Media Partners dated February 18, 2021 in the original principal amount of $5,000,000 and a Secured Promissory Note in the original principal amount of $ 56,955,167, loaned by Vinco to ZVV.
Vinco Ventures, Inc. is a digital media and content technology company. The Company, through its subsidiary, ZVV Media Partners, LLC, has an 80% ownership interest in Lomotif Private Limited (Lomotif), which offers a video-sharing social networking platform that is committed to democratizing video creation. The Lomotif app allows its users to create their own music videos by selecting pictures and videos from the camera, mixing them with music, and transforming video clips into music videos. The Lomotif platform offers LoMoTV, a digital entertainment and lifestyle content network offering original programming. Through AdRizer LLC, it provides technology solutions to automate the use of artificial intelligence for digital advertising analytics and programmatic media buying through its core platform, Cortex. Through Honey Badger Media, LLC, it offers a full-service digital commerce strategy solution focused on brand specific messaging and designing comprehensive digital campaigns.
VINCO VENTURES, INC. 
