Mantra to Be Acquired by Existing Investor Inveniam Capital Partners
Summary
- Real-world asset-focused Layer 1 blockchain Mantra (OM) will be acquired by existing investor Inveniam Capital Partners.
- The companies have signed an acquisition agreement, and the deal is expected to close in the third quarter of this year. Financial terms were not disclosed.
- The market is watching whether the acquisition will provide capital and operational support for Mantra's management stabilization and expansion of its RWA business.
Forecast Trend Report by Period
Real-world asset-focused Layer 1 blockchain Mantra (OM) will be acquired by existing investor Inveniam Capital Partners.
The Block reported on June 16 that the companies have signed an acquisition agreement, with the deal expected to close in the third quarter of this year.
Financial terms were not disclosed.
Inveniam invested $20 million in Mantra before the project's restructuring last year.
Earlier this year, Mantra reorganized and cut staff after its OM token plunged more than 90%.
It has since been working to normalize project operations and revamp its business.
The market is now watching whether the acquisition will provide capital and operational support to help stabilize Mantra's management and expand its real-world asset business.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.