GLEN ALLEN, VA / ACCESSWIRE / May 14, 2024 / ENDI Corp. (OTCQB:ENDI) ("ENDI" or the "Company") today announced the sale of its operational services subsidiary, Willow Oak Asset Management, LLC ("Willow Oak") to Jessica Greer, President of Willow Oak.
The Company provided certain assets to the buyer in exchange for a revenue share over the next ten years. Specifically, ENDI Corp. will receive 10% of the gross revenue of Willow Oak and all assets and liabilities will be assumed by the buyer.
"Willow Oak offers independent asset managers a valuable service. Jessica has been a driving force behind the subsidiary's growth, and I look forward to continuing to participate in Willow Oak's success," said ENDI's CEO, David Sherman. "This transaction allows the Company to focus on other strategic acquisitions that will maximize value for our shareholders."
About ENDI Corp.
ENDI Corp. is a public company primarily focused on financial products and services. ENDI operates in the following sectors: (i) CrossingBridge Operations (investment advisory and sub-advisory services offered through various SEC registered mutual funds, a UCITs fund, and an exchange-traded fund through CrossingBridge Advisors, LLC) and (ii) the sale of internet access, e-mail and hosting, storage, and other ancillary services through Sitestar.net, Inc. For more information, please visit: www.endicorp.com.
Forward Looking Statements
Certain statements in this press release are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified using words such as "anticipate," "believe," "forecast," "estimated" and "intend" or other similar terms or expressions that concern ENDI's expectations, strategy, plans or intentions. These forward-looking statements are based on ENDI's current expectations and actual results could differ materially. There are several factors that could cause actual events to differ materially from those indicated by such forward-looking statements. These factors include, but are not limited to, statements regarding the timing and effect of the Company's deregistration of its securities and the continued existence of a trading market in the Company's Class A common stock. However, these risks are not exhaustive and new risks and uncertainties emerge from time to time and it is not possible for us to predict all risks and uncertainties that could have an impact on the forward-looking statements contained in this press release. Forward-looking statements included herein are made as of the date hereof, and ENDI does not undertake any obligation to update publicly such statements to reflect subsequent events or circumstances, except as may be required by law.
Investor Relations Contact:
Email: info@endicorp.com
https://www.endicorp.com/
SOURCE: ENDI Corp.
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