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BRIEF-FunctionX enters into a binding term sheet with Bumpclick
March 8, 2017 / 3:27 PM / 9 months ago

BRIEF-FunctionX enters into a binding term sheet with Bumpclick

March 8 (Reuters) - FunctionX Inc:

* FunctionX Inc - on March 7, 2017, entered into a binding term sheet with Bumpclick Llc

* FunctionX Inc - in connection with binding term sheet, function(x) will purchase all of equity interests of Bumpclick from Sean Beckner

* FunctionX Inc - Beckner will receive as consideration on closing date of transaction ten million dollars in cash - SEC filing

* FunctionX Inc - Beckner will also receive fifteen million dollars in shares of company’s common stock as consideration

* FunctionX Inc -If a software platform owned by Bumpclick is exclusively licensed, 18 months after closing of deal, beckner to get 20% of value of software platform Source text: (bit.ly/2mlDxjd) Further company coverage:

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