Mergers & Acquisitions ·
House of Doge signs binding LOI to acquire McQueen Labs for $15M in stock and notes
HODOHouse of Doge Inc.
House of Doge Inc. entered into a binding letter of intent to acquire the tokenization platform and microlending business of McQueen Labs Inc. The purchase price is $15,000,000, payable via 19.99% of House of Doge's common stock, 30.0% of new non-voting convertible preferred stock, and a promissory note with up to $5,000,000 in contingent milestone payments. Concurrently, the company announced leadership changes: CEO Marco Margiotta and CFO Charles Park resigned, while McQueen Labs CEO Curt Hopkins was appointed interim CEO and CFO. The filing also disclosed an asset transfer to Dogecoin Labs for a $4,000,000 equity stake and a new trademark license with the Dogecoin Foundation. House of Doge is evaluating financing alternatives and plans to seek stockholder approval for a reverse split of its common stock. The company operates as an alternative investment and tokenization platform.