Mantra to Be Acquired by Existing Investor Inveniam Capital Partners
Summary
- Real-world asset-focused Layer 1 blockchain Mantra (OM) is set to be acquired by existing investor Inveniam Capital Partners.
- The two companies have signed an acquisition agreement, and the deal is expected to close in the third quarter of this year. The purchase price was not disclosed.
- The market is watching whether the acquisition will provide capital and operational support for management stabilization at Mantra and the expansion of its RWA business.
Forecast Trend Report by Period
Real-world asset-focused Layer 1 blockchain Mantra (OM) is set to be acquired by existing investor Inveniam Capital Partners.
The Block reported on June 16 that the two companies have signed an acquisition agreement and expect to complete the deal in the third quarter of this year.
The purchase price was not disclosed.
Inveniam is an existing investor in Mantra and invested $20 million before the project's restructuring last year.
Earlier this year, Mantra reorganized its operations and cut staff after its OM token plunged more than 90%.
It has since been working to normalize project operations and reorganize its business.
The market is 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.
