ATLANTA, GA / ACCESSWIRE / December 15, 2020 / RDE, Inc. (OTCQB:RSTN) (the "Company"), a pioneer in the restaurant deal space and the nation's largest restaurant-focused digital deals brand, today provided an update on the divestiture of SkyAuction with a stock sale back to its founders.
The divestiture included a Seller Note of $2.5 million, which was converted into RDE, Inc's.common stock at $7.50 per share, and $179,000 of forgiven accrued interest.
Ketan Thakker, Chief Executive Officer of RDE, Inc., commented: "We look forward to executing on our vision in becoming "all things restaurants" and being a solid strategic partner to national and local restaurants. I'd like to thank the founders of SkyAuction , as it was a pleasure working with them over the past two years. We have since pivoted our Company strategy and focus toward the restaurant and dining industry with our acquisition of Restaurant.com and opportunities we have identified for long-term growth. I wish all the best to SkyAuction and their team as they have persevered and grown the business over the past ten years."
About RDE, Inc.
RDE, Inc. (OTCQB:RSTN) (Restaurant, Dining and Entertainment) is a pioneer in the restaurant deal space and the nation's largest restaurant-focused digital deals brand. Founded in 1999, Restaurant.com, Specials by Restaurant.com and our Corporate Incentives division connect digital consumers, businesses and communities offering thousands of dining, retail and entertainment deal options nationwide at over 184,000 restaurants and retailers. Restaurant.com prides itself on offering the best deal, every meal. Our restaurant certificates and gift cards allow customers to save at thousands of restaurants across the country with just a few clicks.
For more information, visit: www.rdeholdings.com
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SOURCE: RDE, Inc.