ETHZilla Corporation (Nasdaq: ETHZ) has acquired a 15% fully diluted stake in Zippy, a digital lending platform specializing in manufactured home loans, the company said Wednesday, Dec. 10.
The transaction, valued at $21 million, includes $5 million in cash, $14 million in ETHZilla common stock issued to Zippy, and $2.1 million in stock issued to certain individual Zippy shareholders, according to a press release viewed by The Defiant.
ETHZilla will also appoint a director to Zippy’s board of directors as part of the partnership. ETHZ is currently trading at $9.90, down 11.3% on the day, according to Yahoo Finance.
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