Linkage Global Plans $60M Acquisition of Cicada Tech

Linkage Global announced that it has entered into a non-binding letter of intent with Cicada Tech to engage in diligence and negotiations regarding the terms of a potential transaction whereby the company may acquire 100% of the equity interest in Cicada for an aggregate consideration of $60M, of which $3M will be paid in cash and the remaining will be satisfied through the issuance of Linkage Global class A ordinary shares. The proposed acquisition remains subject to the satisfactory completion of customary financial, technical and legal due diligence, an independent third-party appraisal of enterprise value, and an independent audit of the Cicada Tech's financial statements prepared in accordance with US GAAP. The transaction is also conditional upon, among other matters, the negotiation and execution of a definitive purchase agreement containing customary representations, warranties, covenants and indemnities, receipt of any required regulatory and third-party approvals, and the absence of any material adverse change. There can be no assurance that the proposed transaction will be completed on the terms contemplated in the LOI or otherwise.