A global cryptocurrency and blockchain infrastructure provider will invest $400 million in an existing PIPE under established terms. Binance will assist Forbes with its digital asset and Web3 strategy.
According to Forbes’ earlier announcement, Binance will make a strategic investment by assuming subscription agreements representing $200 million of commitments in a $400 million private investment in public equity (“PIPE”) previously announced. With Binance inheriting previous PIPE commitments, the overall amount of the PIPE will remain at $400 million, and Binance’s participation will be on basically the same terms as the existing PIPE investors.
Mike Federle, CEO, Forbes said, “Forbes is committed to demystifying the complexities and providing helpful information about blockchain technologies and all emerging digital assets,” “With Binance’s investment in Forbes, we now have the experience, network and resources of the world’s leading crypto exchange and one of the world’s most successful blockchain innovators. Forbes, already a resource for people interested in the emerging world of digital assets, can become a true leader in the field with their help.”
Changpeng ‘CZ’ Zhao, Founder and CEO, Binance, said “As Web 3 and blockchain technologies move forward and the crypto market comes of age we know that media is an essential element to build widespread consumer understanding and education. We look forward to bolstering Forbes’ Digital initiatives, as they evolve into a next level investment insights platform,”
Photo by Vadim Artyukhin
