Big news for LiveDeal on Tuesday morning.
The publicly traded company that operates livedeal.com, a geo-location-based, mobile marketing platform for consumer products and “real-time” and “instant dining offers” to nearby consumers, tells MMW that it has “solidified its acquisition strategy” to seek out undervalued companies with little to no online presence.
But wait, there’s more.
Further, the Company has adopted a policy designed to prevent share dilution and to increase stockholder value. LiveDeal now intends for its contemplated acquisitions to be financed and closed using traditional, non-dilutive debt financing rather than using the Company’s equity.
And there’s a rebranding effort taking place too. The reason? To better reflect the company’s new direction.
With this rebranding will come a new corporate name, “Live Ventures, Inc.” Live Ventures, Inc. will retain the ticker NASDAQ: LIVE, and LiveDeal Inc. will become a wholly-owned, fully operating subsidiary of Live Ventures, Inc., providing the same online offers as it currently provides. The Company expects the name change to take effect within 45 days.
“We have repeatedly discussed that we see LiveDeal as a leader in the industry, and that our growth would transcend the deal space,” said Jon Isaac, CEO of LiveDeal. “By rebranding ourselves to Live Ventures, Inc., we have the bandwidth to expand into a wide variety of verticals, while maintaining our original acquisition strategy, namely, seeking revenue-positive companies that are undervalued and present significant growth opportunities through an online presence. We look forward to demonstrating our vision, and our success, to our stockholders, customers and potential partners alike.”