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Linkage Global has signed a non-binding letter of intent to look into acquiring Cicada Tech, a company that focuses on turning real world assets into on chain yield products. The idea on the table is a full acquisition valued at about 60 million dollars. Only three million would be paid in cash and the rest would come through newly issued Linkage Global class A shares.
This is not a done deal. The company still needs to run through all the usual checks like financial, technical and legal due diligence. Cicada’s numbers also need an independent audit based on US GAAP and a third party valuation of the business. Both sides also have to negotiate a final agreement that covers the standard representations, warranties and covenants.
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There are regulatory approvals and other third party clearances that could influence the timeline. The LOI makes it clear there is no guarantee the acquisition will go through as written or even go through at all. Right now it is an early step toward a possible deal, not a confirmed transaction.
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