FTX's Alameda Enters Into $45M Deal To Sell Its Sequoia Interest
FTX ’s sister company, Alameda Research , has come to a $45 million cash deal aggrement to sell its Sequoia Capital interest. The official court document filed on Wednesday, March 8, pointed out that the buying party is Al Nawwar Investments RSC Limited, a company with limited liability incorporated under the laws of the Abu Dhabi Global Market. Usually, the purchaser is required to bear the the amount of any capital contributions after the balance sheet date and on or prior to the closing date. The amount of distributions received by seller or seller’s estate, however, is excluded. Additionally, the “cure costs,” if any, are also supposed to be paid by the seller without deductions. No contributions or distributions were made by the company, thereby bringing the aggregate amount payable to $45 million. Detailing out the same, the filing noted, “ After extensive arms’-length negotiations, Seller and Purchaser entered into that certain Purchase and ...