Ideanomics Inc.
07/30/2021 | Press release | Distributed by Public on 07/30/2021 17:03
Subscription Agreement (Form 8-K)
| Entry into a Material Definitive Agreement |
On July 26, 2021, Ideanomics, Inc. (the 'Company') entered into a a subscription agreement (the 'Agreement') to invest $25,000,000 (the 'Investment') in the Minority Depository Institution Keepers Fund (the 'MDI Fund') over a period of three years. The MDI Fund sponsored by the National Bankers' Association, an organization of minority-owned banks that aim to increase inclusivity in the financial services industry. The MDI Fund will provide capital resources primarily in low and moderate income areas to grow a more skilled workforce, increase employment opportunities, and support businesses' growth among minority and underserved communities.
The foregoing description of the Agreement is qualified in its entirety by reference to the full text of the Agreement, a copy of which will be filed in a future Form 10-Q as required.