Hodlnaut, a crypto lender, has received an offer from OPNX exchange to take over 75% of the company, providing a capital injection of nearly $30 million worth of FLEX tokens. This offer would partially cover creditors’ payout and outstanding claims. If approved, OPNX would become the majority owner of Hodlnaut. Creditors would receive 30% of their claims in FLEX and other tokens, or a pro-rata payment of up to 95% of the available corporate asset pool. The deal is being overseen by a Singapore court. However, it’s uncertain if the creditors will accept the offer as previously they expressed their desire to liquidate the company. Hodlnaut has been under judicial management since August 2022 due to a liquidity crisis.
Key Points:
– OPNX exchange has offered to take over 75% of Hodlnaut and provide a capital injection of $30 million worth of FLEX tokens.
– Creditors would receive 30% of their claims in tokens or a pro-rata payment of up to 95% of the available assets.
– The deal is being overseen by a Singapore court.
– The majority of Hodlnaut’s creditors previously expressed their desire to liquidate the company.
– Hodlnaut has been under judicial management since August 2022.
Hot Take:
The offer from OPNX exchange could potentially save Hodlnaut from liquidation and provide much-needed capital to address creditors’ claims. However, it remains to be seen if the creditors will accept the offer and if it will be enough to fully resolve Hodlnaut’s financial difficulties.
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