Solowin Holdings Acquires Broker-Dealer Cambria Capital
Ticker: AXG · Form: 6-K · Filed: Mar 6, 2024 · CIK: 1959224
Sentiment: neutral
Topics: acquisition, financial-services, broker-dealer
TL;DR
Solowin Holdings is buying Cambria Capital, a broker-dealer. Big move for their financial services biz.
AI Summary
On March 5, 2024, Solowin Holdings, Ltd. (the "Buyer") entered into a membership interest purchase agreement to acquire Cambria Capital, LLC, a registered broker-dealer. The filing is a Report of Foreign Private Issuer for the month of March 2024.
Why It Matters
This acquisition could expand Solowin Holdings' presence in the financial services sector by integrating a registered broker-dealer.
Risk Assessment
Risk Level: medium — The acquisition of a financial services company introduces integration and regulatory risks.
Key Players & Entities
- Solowin Holdings, Ltd. (company) — Buyer in the purchase agreement
- Cambria Capital, LLC (company) — Company being acquired
- March 5, 2024 (date) — Date of the purchase agreement
FAQ
What is the nature of the agreement Solowin Holdings entered into?
Solowin Holdings entered into a membership interest purchase agreement to acquire Cambria Capital, LLC.
Who is the seller in the purchase agreement?
The seller is Cambria Capital, LLC.
What type of company is Cambria Capital, LLC?
Cambria Capital, LLC is a broker-dealer registered with the Financial Industry Regulator.
What is the filing type and period for this report?
This is a Form 6-K, Report of Foreign Private Issuer, for the month of March 2024.
Where is Solowin Holdings, Ltd. located?
Solowin Holdings, Ltd. is located at Room 1910-1912A, Tower 3, China Hong Kong City, 33 Canton Road, Tsim Sha Tsui, Kowloon, Hong Kong.
Filing Stats: 840 words · 3 min read · ~3 pages · Grade level 19.5 · Accepted 2024-03-06 09:00:02
Key Financial Figures
- $700,000 — he Seller for a total purchase price of $700,000 (“Purchase Price”), subject
- $200,000 — f the payment by Buyer to the Seller of $200,000 of the Purchase Price in exchange for a
- $500,000 — which the Buyer shall pay to the Seller $500,000 of the Purchase Price in exchange for a
- $100,000 — to the Seller at a discounted price of $100,000 within five (5) business days after the
Filing Documents
- ea0201233-6k_solowin.htm (6-K) — 21KB
- ea0201233ex4-1_solowin.htm (EX-4.1) — 250KB
- 0001213900-24-020299.txt ( ) — 273KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Date: March 6, 2024 SOLOWIN HOLDINGS By: /s/ Shing Tak Tam Shing Tak Tam Chief Executive Officer 3