The company plans to acquire 100% of Alchemy Markets DMCC (UAE), 100% of Alchemy Prime Ltd. (UK) and the remaining 49.90% from Alchemy Markets Ltd. (Malta).
Post-merger, FDCTech will provide global institutional liquidity and multi-asset trading solutions based on its proprietary, regulatory-ready technology.
IRVINE, CA, September 28, 2023 (GLOBE NEWSWIRE) — FDCTech, Inc. (“FDC” or the “Company”, OTCQB: FDCT), a fintech-focused company focused on acquiring and integrating small to medium-sized legacy assets specialized financial services company today announced the legally binding agreement with Alchemy Group under which the company will acquire 100% of Alchemy Markets DMCC (Alchemy UAE), 100% of Alchemy Prime Ltd. (Alchemy UK) and the remaining 49.90% from Alchemy Markets Ltd. will acquire. (Alchemy Malta), collectively known as Alchemy Group. The Company will issue 1,700,000 shares of its Series B Preferred Stock, or such other number of shares as the parties agree, to Alchemy Group stockholders for the acquisition. Upon completion of the merger, the existing management team and Board of Directors will continue to oversee and direct the Company’s operations. This transaction is the result of extensive negotiations starting in September 2022.
The company’s aim is to establish a world-class online trading and investing platform targeting the European, Asian and Australian markets. This multi-layered acquisition strategy marks a crucial milestone in the company’s operational history. The Company firmly believes that this acquisition serves the best interests of its shareholders, as described below:
Diversification of services:
- Alchemy Markets DMCC: Trades primarily for proprietary accounts on regulated exchanges as an OTC market participant and liquidity provider to small to mid-sized online brokers in certain situations.
- Alchemy Prime (UK): Financial services for brokers, hedge funds and other institutional clients in an efficient, low-cost environment, regulated by the UK Financial Conduct Authority (FCA).
- Alchemy (Malta): Online retail brokerage services regulated by the Malta Financial Services Authority (MFSA).
Positive cash flow:
Alchemy Group’s impressive financial performance, with audited revenues of over $22 million and net income of over $12 million for fiscal year 2022, is expected to strengthen the company’s financial position and profitability.
Solid financial position:
Alchemy Group’s solid balance sheet with net financial assets of over $20 million ensures the company’s financial stability and high creditworthiness.
Geographic expansion:
Alchemy Group’s diverse locations in Europe, the Middle East and other Asian regions enable the company to expand its global footprint and serve a broader and more diverse customer base.
Synergy and integration:
The combined expertise of FDCTech and Alchemy Group can result in operational efficiencies, cost savings and the potential for innovative product and service offerings. The combined team members have experience in the financial services sector since 1978 and have successfully built flexible trading infrastructures in all major financial markets from Asia to North America.
Competitive advantage:
The acquisition would position the company as a key player for small and medium-sized brokers, often overlooked by large financial institutions, with its regulatory-grade technology and liquidity solutions, giving it a competitive advantage over other industry players.
The Company is executing the transaction with its internal team, with Barnett and Linn serving as legal counsel to the Company. The Company expects to complete the transaction in the next thirty days.
Please visit our SEC filings or the Company website Further information on the full results, management plan and binding letter of intent can be found here.
Alchemy Markets DMCC
Alchemy Markets DMCC is registered as a Free Zone Company under the Federal Commercial Company Law of the UAE on September 28, 2017 at the Dubai Multi Commodities Centre, Dubai – United Arab Emirates (License Number DMCC-344359). Alchemy Markets DMCC trades primarily for proprietary accounts on regulated exchanges as an OTC market participant and liquidity provider to small to medium sized online brokers in certain situations.
Alchemy Markets Ltd. (formerly known as NSFX Ltd.)
Alchemy Markets (the “Company”) is a private limited company registered under the Companies Act, Cap – 386 of the Laws of Malta, with registration number C 56519. The Malta Financial Services Authority regulates Alchemy Markets with a license number IS/56519. Alchemy Markets is authorized to trade for its own account as a Category 3 MFSA licensed business, to receive and transmit orders for retail and professional clients, and to hold and control clients’ funds and assets. Alchemy Markets offers trading platform services in English, French, German, Italian and Arabic, enabling clients to trade currencies, commodities, stocks and other derivatives in real time.
Alchemy Prime Limited
Alchemy Prime Limited is authorized and regulated in the United Kingdom by the Financial Conduct Authority (reference number 612233). As an award-winning broker, Alchemy Prime has spent years building a comprehensive liquidity network and investing in its pricing technology. Due to its experience and extensive network of counterparties, Alchemy Prime is able to offer tailored services to brokers, hedge funds and other institutional clients in an efficient and cost-effective environment. Alchemy Prime offers strong liquidity pools, global reach, exceptionally competitive commission rates and leverage conditions. Its trading and registered address is Unit 1, 74 Back Church Lane, London E1 1LX, a company registered in England and Wales with Companies House under reference number 08698974.
AD Advisory Services Pty Ltd.
AD Advisory Services Pty Ltd. – AFSL #237058, an independent specialty dealer group, provides licensing solutions to select financial advisors and accountants with a focus on education and compliance. ADS’ dedicated management team consists of qualified financial planners servicing metropolitan and regional practices throughout Australia.
FDCTech, Inc.
FDCTech, Inc. (“FDC”) is a U.S.-based leading developer of regulatory financial technology infrastructure designed for the financial markets of the future. Our customers include regulated and OTC brokers, as well as prop and algo trading firms of all sizes in forex, stocks, CFDs, commodities, indices, ETFs, precious metals and other asset classes. Our growth strategy includes acquiring and integrating small to mid-sized, established financial services companies and leveraging our proprietary trading technology and liquidity solutions to deliver exceptional value to our customers.
Press Release Disclaimer
Statements in this press release may be forward-looking statements or future expectations based on currently available information. Such statements are inherently subject to risks and uncertainties. Factors such as general economic developments, future market conditions, unusual catastrophic loss events, changes in the capital markets and other circumstances could cause actual events or results to differ materially from those anticipated in such statements. The Company makes no representation or warranty, express or implied, as to the accuracy, completeness or current status of any such forward-looking statements or information provided by third parties. Therefore, in no event shall the Company and its affiliates be liable to anyone for any decision or action taken in connection with the information and/or statements in this press release or for any damages related thereto.
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FDCTech, Inc.
[email protected]
www.fdctech.com
+1 877-445-6047
200 Spectrum Center Drive, Suite 300,
Irvine, CA, 92618
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