AI Unlimited Group Acquires BeyondTrade Securities for $2.95 per Share
Deal News | Dec 18, 2024 | Globenewswire
AI Unlimited Group Inc., a leading company in AI-powered solutions, has announced a binding agreement to acquire BeyondTrade Securities at $2.95 per share. This acquisition bolsters AI Unlimited's Nest Egg platform by expanding its capabilities into regulated financial services such as brokerage and trade execution. Trent McKendrick, CEO of AI Unlimited Group, highlighted that this acquisition is a pivotal step in enhancing AI-driven investment strategies with regulated execution tools. The integration of BeyondTrade Securities will enable Nest Egg to provide an end-to-end investment experience for retail investors. Bruce Ji, the founder of BeyondTrade, will join as Senior Vice President of Nest Egg, bringing over two decades of financial experience. Management and principals of BeyondTrade will remain to ensure continuity. The deal includes the issuance of 700,000 AI Unlimited shares to BeyondTrade's leadership to align strategic goals. Pending FINRA approvals, this acquisition aims to set a robust foundation for modern AI-powered investment services.
Sectors
- Financial Services
- Artificial Intelligence
- Investment Advisory
Geography
- United States – AI Unlimited Group is based in Los Angeles, indicating the primary geographical scope of its operations.
Industry
- Financial Services – The acquisition of BeyondTrade Securities by AI Unlimited involves expanding into the regulated financial services sector, particularly in brokerage operations and trade execution.
- Artificial Intelligence – AI Unlimited Group is positioned as a leader in AI-powered solutions, enhancing their platforms with AI-driven insights and tools.
- Investment Advisory – AI Unlimited is enhancing its Nest Egg platform to provide advisory tools combining AI insights with real-time investment execution.
Financials
- $2.95 – The price per share AI Unlimited Group agreed to pay for BeyondTrade Securities.
- 700,000 – Number of AI Unlimited shares issued to align BeyondTrade Securities' leadership with AI Unlimited's growth strategy.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| AI Unlimited Group Inc. | Buyer | Company | AI Unlimited Group Inc. is an AI-driven technology incubator focusing on fintech, investment, and travel sectors. |
| BeyondTrade Securities | Target | Company | BeyondTrade Securities is a licensed broker-dealer that offers brokerage services and expertise. |
| Trent McKendrick | CEO of AI Unlimited Group | Person | Trent McKendrick is the Chief Executive Officer of AI Unlimited Group. |
| Bruce Ji | Senior Vice President of Nest Egg | Person | Bruce Ji is the founder of BeyondTrade Securities and brings over two decades of experience in the financial services industry. |