The acquisition was made possible with the assistance of
DDS Rank provides dentists with digital marketing services including search-engine optimization, paid advertising, and web design. During 2023, DDS Rank generated approximately
"DDS Rank was an obvious acquisition for us. While it is much smaller than our next anticipated acquisition and other acquisition candidates in our pipeline, it has very significant untapped potential," commented
On the deal structure, Wells added, "We're completing this acquisition without investing any cash or common shares from
The purchase price is
The Series A Preferred Shares and secured promissory notes issued by
"We have negotiated several acquisitions with structures similar to the DDS Rank transaction and have enough capital to close because of our special purpose vehicle non-dilutive funding," said
"We now have a clear path and timeline to profitability, without the need for raising any additional equity capital," concluded Wells.
About DDS Rank
DDS Rank helps dentists increase their website traffic through search engine optimization and paid advertising. Approximately 91% of the company's revenues are subscription-based recurring revenue. The company excels at helping dentists improve search engine visibility and web traffic, resulting in more appointments and visits to their clinics. Visit www.ddsrank.com to learn more.
About
Safe Harbor Statement
The information posted in this release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by use of the words "may," "will," "should," "plans," "explores," "expects," "anticipates," "continues," "estimates," "projects," "intends," and similar expressions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, delays in completing new customer offerings, changes in customer order patterns, changes in customer offering mix, continued success in technological advances and delivering technological innovations, delays due to issues with outsourced service providers, those events and factors described by us under the caption "Risk Factors" included in our
Investor Contact
investors@onfolio.com
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