blockchAIn Digital Infrastructure Generated Unaudited Revenue of $26.8 million and Net Income of $4.0 million in 2024 blockchAIn Digital Infrastructure Focused on Crypto Mining, Artificial Intelligence ("AI”), and High-Performance Computing ("HPC”) Data Hosting Markets blockchAIn Digital Infrastructure Expected to Expand into U.S.-based Crypto Mining SCOTTSDALE, Ariz., April 14, 2025 (GLOBE NEWSWIRE) -- Signing Day Sports, Inc.("Signing Day Sports” or the "Company”) (NYSE American: SGN), the developer of the Signing Day Sports app and platform to aid high school athletes in the recruitment process, today announced the signing of a non-binding letter of intent ("LOI”) to acquire 100% of the issued and outstanding shares of blockchAIn Digital Infrastructure (collectively together with certain of its affiliates and subsidiaries, "blockchAIn Digital Infrastructure” or "blockchAIn DI”) which will operate a crypto mining, AI and HPC data hosting company with an expected 200MW of properties in South Carolina and Texas.
It is anticipated that the definitive agreements will contain customary representations, warranties and covenants made by Signing Day Sports and blockchAIn Digital Infrastructure, including covenants relating to both parties using their commercially reasonably efforts to cause the transactions contemplated by the agreement to be satisfied, covenants regarding obtaining the requisite approval of Signing Day Sports’ stockholders, covenants regarding indemnification of directors and officers, and covenants regarding Signing Day Sports’ and blockchAIn Digital Infrastructure’s conduct of their respective businesses between the date of signing of definitive agreements and the closing, and other customary conditions to closing.
Under the LOI, the consideration to be paid at closing to blockchAIn Digital Infrastructure or their securityholders will be comprised of shares of Signing Day Sports common stock with a value of approximately $215.0 million, subject to an exchange ratio and other certain adjustments, at an implied value per share for Pubco of $10.04 (including adjustment as applicable for exchange listing purposes).
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