Signing Day Sports, Inc. (NYSE: SGN) experienced a significant surge in its stock value following the announcement of an equity purchase agreement, driving its shares 124.74% higher to $4.36. According to our ST screener ratings in the Software Application industry, SGN is considered undervalued, drawing investor interest. Stakeholders seeking deeper insights into peer stocks with higher scores are encouraged to review the ST screener link for further analysis.
Acquisition of Swifty Global to Strengthen Growth Prospects
Signing Day Sports has entered into a Stock Purchase Agreement (SPA) to acquire 99.13% of the issued and outstanding capital stock of Dear Cashmere Group Holding Company (OTC: DRCR), operating under the brand name Swifty Global.
Swifty Global specializes in online sports and casino technology, boasting a strong track record of revenue growth and profitability. This acquisition is expected to significantly enhance the growth trajectory of Signing Day Sports by leveraging Swifty Global’s established market presence and innovative solutions.
The Financial Results and Growth Plan of Swifty Global
With nearly $128 million in revenue and a net profit of over $2.44 million for the fiscal year that ended on December 31, 2023, Swifty Global announced outstanding financial performance. It was achieved despite significant expenditures of around $3.1 million for software development and licensing efforts.
Swifty Global intends to fill current market gaps where real-time betting data is still scarce, especially in sports like boxing, by launching data feed services specifically designed for the online sports gambling sector soon.
Strategic Synergy and Future Outlook
The SPA agreement underscores a shared vision between Signing Day Sports and Swifty Global to drive innovation and market expansion. Signing Day Sports aims to leverage Swifty Global’s SaaS technology to enhance operational efficiencies, reduce costs by over 50%, and accelerate product development.
This collaboration is expected to boost user acquisition, retention, and revenue streams while facilitating expansion into emerging markets across Europe, Africa, and the Middle East. Upon completion of the SPA, Swifty Global will operate as a subsidiary of Signing Day Sports, with full integration of financial results into the parent company’s operations.
Likewise, Signing Day Sports’ pre-acquisition business will function as a subsidiary under the corporate structure. This strategic move positions Signing Day Sports as a formidable player in the global sports technology industry, committed to innovation and sustained growth.
