Kustom Entertainment to Sell Video Division Cycurion; Shares Jump

MT Newswires Live

06/25

Kustom Entertainment (KUST) said Thursday it has agreed to sell its video division to Cycurion (CYCU), advancing its strategic shift toward live entertainment and online ticketing operations.

The purchase price is $5.5 million, comprising $1.25 million in cash and a $4.25 million, 36-month promissory note, the company said.

Kustom will also receive 2 million warrants to purchase Cycurion shares as part of the deal, which is expected to close in July, the company said.

Kustom Entertainment shares jumped 83% in premarket trading.

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