Mogo closes acquisition of additional shares in Coinsquare

da-kuk/E+ via Getty Images Mogo (([[MOGO]] +1.7%)) closes on the acquisition of an additional 2% of outstanding common shares of Coinsquare, bringing its stake in Canada's leading cryptocurrency platform to ~39%. Mogo has the option to acquire up to an additional 3.4% of Coinsquare's outstanding common stock until Oct. 13, 2021, which could increase Mogo's total equity ownership by up to an additional 14% of outstanding common stock. Mogo would require Coinsquare board's approval to increase its ownership in the company to more than 49.9%. Today, Mogo acquired 655,644 shares of Coinsquare from Michael Diamond and two affiliated companies for aggregate consideration consisting of the issuance of 378,774 common shares of Mogo and a cash payment of C$5M (US4.1M). Previously, (May 13) Mogo increases equity ownership in Coinsquare.