Rainmaker to Acquire Mainframe From IDT
Rainmaker has agreed to purchase 62% worth of outstanding shares of Mainframe Ent. Inc. from IDT Ent. Inc. and its affiliates. The acquisition is expected to close on July 31.
Following the closing of the acquisition from IDT, Rainmaker intends to acquire the balance of the shares of Mainframe. If Rainmaker acquires all the remaining shares of Mainframe at the intended price, the aggregate acquisition purchase price to Rainmaker for all shares of Mainframe will be approximately $13.8 million.