Friday, January 28, 2022

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    Dan Bilzerian came up with a $25 million share acquisition to save Ignite

    Daniel Brandon Bilzerian is a popular American actor Internet personality, professional poker player, and Instagrammer. He is also a venture capitalist and the founder, chairman, and Chief Executive Officer of Ignite.

    For quite a while there were many speculations floating around that Dan and his company Ignite are on the verge of bankruptcy. With the current financial reports and situation of the company, everyone was wondering his next move to save the company.

    In the latest press statement from Ignite shows us that Dan plans to acquire 50,000 proportionate voting shares of the company “for an aggregate subscription of CAD 5 million.”

    With addition to this, Dan will settle CAD 20 million of convertible debentures with an outside creditor. Eventually, Ignite will grant him 200,000 proportionate voting shares in exchange for settling the debt.

    “As we announced last week, we project Ignite to have a profitable fourth quarter and I am very much looking forward to seeing what the Company can do in 2021 when it should be operating on all cylinders”, Bilzerian said. “The new management team is excited to show what it can do in the fourth quarter this year and next year.”

    Taking a shot at journalists who published that he was on the verge of Bankruptcy he shared a meme for the. Many people disagreed with him and said that he was soon going to go down.

    Internally, he removed his previous president of the company and hired a new person for his designation.

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