Nextplay's nextfintech division receives commitment for $15 million strategic investment; pre-money valuation for nextfintech set at $150 million

Sunrise, fl, oct. 20, 2022 (globe newswire) -- via newmediawire – nextplay technologies, inc. (nasdaq: nxtp), a digital native ecosystem for finance, digital advertisers, and video gamers, announced today that it has entered into a binding commitment for a $15 million strategic investment into its nextfintech division from an institutional investor. this investment commitment consists of the purchase of shares of common stock in nextfintech at a pre-money valuation of $150 million for nextfintech, warrants to purchase shares in nextplay beneficially owned by nextbank and an option to convert said nextfintech shares into up to an 18.8% equity interest in nextbank.
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