Nexo Will Need Another Month to Decide Whether it Will Acquire Vauld

According to Nexo, the company will need another 30 days to make a decision to acquire its competitor Vauld.

According to the document, Nexo started on July 5 a comprehensive 60-day review of the potential deal. In September, the company decided to extend the period for another month.

The platform co-founder Antoni Trenchev has confirmed this information.

On July 4, Vauld announced it had suspended its operations and a possible restructuring due to financial difficulties. The next day it became known Nexo had signed a preliminary takeover agreement with the company.

Later, the media found out that the amount of Vauld’s outstanding debt after these events amounted to $402 million.