Fathom Holdings and Neighborhood Intelligence Announce Mutual Termination of Proposed Merger
Key Highlights
- ➤Fathom Holdings (FTHM) and Neighborhood Intelligence (NXH) mutually terminate proposed merger
- ➤Boards said current valuations fail to reflect either company’s fair value
- ➤Neighborhood Intelligence will retain ownership and control of blockchain and digital assets
- ➤Fathom and NXH plan to explore collaboration, including data sharing
- ➤Companies will remain independent and focused on their respective operating priorities
Expert Statements
Scott Flanders, Chairman of the Board of Fathom Holdings
“We entered into the merger transaction because we believed that combining Fathom’s national real estate and title businesses with Neighborhood Intelligence’s technology, data and other assets had the potential to create long-term value”
Scott Flanders, Chairman of the Board of Fathom Holdings
“At current valuations, however, we do not believe a merger appropriately reflects the fair value of either company.”
Scott Flanders, Chairman of the Board of Fathom Holdings
“Fathom has made meaningful progress, and we look forward to exploring data sharing and other areas of collaboration while each company pursues its own strategy.”
Marcus Lemonis, Chairman and Chief Executive Officer of Neighborhood Intelligence
“Our responsibility is to continually evaluate the best path to maximize long-term value for our shareholders”
Marcus Lemonis, Chairman and Chief Executive Officer of Neighborhood Intelligence
“After listening to shareholders and reviewing the alternatives, we believe retaining ownership and control of our blockchain assets while allowing tZERO to continue executing its plan is the appropriate path.”
Marcus Lemonis, Chairman and Chief Executive Officer of Neighborhood Intelligence
“We are encouraged by the potential of these assets and believe retaining them gives our shareholders the best opportunity to participate in their future value.”
Marcus Lemonis, Chairman and Chief Executive Officer of Neighborhood Intelligence
“Separately, we and Fathom have determined that a merger at current valuations would not appropriately reflect the fair value of either company.”
Marcus Lemonis, Chairman and Chief Executive Officer of Neighborhood Intelligence
“We remain supportive of Fathom’s progress and look forward to working together, including exploring opportunities around data sharing.”
Fathom Holdings and Neighborhood Intelligence Announce Mutual Termination of Proposed Merger
Boards conclude that current valuations do not reflect the fair value of either company; Neighborhood Intelligence to retain blockchain asset ownership while the companies explore collaboration, including data sharing
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