ProBility Media Corp (OTCMKTS:PBYA) Stock Announces News: Stock Jumps
In the past week, the ProBility Media Corp (OTCMKTS:PBYA) stock has been in the middle of a sustained selloff and it has been reflected in the price action as well. Over the course of the past week, the stock tanked by 10% and at this point, it might actually be a good idea for investors to perhaps figure out if the recent fall could be an opportunity or not.
As it happens, the company is in the news this morning after it announced that it is going to complete the acquisition of Upstryve Inc. ProBility Media is an education company that provides an online service by way of which professionals can get training and eventually advance their careers. The acquisition of Upstryve is a step in that direction and the acquisition is going to be completed entirely in stock.
However, there is more to the transaction that investors need to be aware of. After the acquisition is completed, the company is going to change its name to Upstryve.
Following that all the subsidiaries of the company are also going to be rebranded to reflect the changes. In order to complete this transaction, ProBility media is going to issue as many as 692,500,000 units of the restricted common stock to those who hold shares in Upstryve. More importantly, the company also stated that it is not going to go for a reverse split of its common stock in order to close the transaction. That must have come as a positive for ProBility shareholders.