Network in discussions for acquisition of Ben Armstrong's business assets
In a recent interview with Altcoin Daily host Aaron Arnold, TJ Shedd, CEO of Hit Network, revealed the latest developments in the buyout deal involving Ben Armstrong, the popular cryptocurrency influencer known as 'Bit Boy'. According to Shedd, Hit Network has proposed a buyout deal to Armstrong, aiming to completely acquire the 'Bit Boy' brand. The valuation process for this deal is currently being conducted by Hit Network, with the purpose of determining the amount to pay Armstrong. Shedd stated that the payout to Armstrong would be made in parts over a period of 5 years, and that the original terms of the buyout deal include this payout. The proposed deal includes offering Armstrong 67% of the business valuation after an appraisal. However, the buyout deal is still ongoing, despite the dismissal of Armstrong's motion to halt the deal. Shedd denied allegations of stealing from Armstrong and firing him without reason, and responded affirmatively when asked if the buyout offer is still on the table. Despite the ongoing process, Shedd expressed frustration over Armstrong's delaying tactics, stating that the process has been delayed due to Armstrong's reluctance to agree to the deal. Despite the lack of information about the judge who dismissed Armstrong's motion to block the takeover offer from Hit Network, the valuation process is proceeding, with Hit Network moving forward with the process. It remains to be seen whether Armstrong will agree to the deal, or if the buyout process will continue to be delayed. As the situation develops, more information will likely become available.
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