Usio, Inc. (Nasdaq: USIO), share jumped 55.2% to $2.84 after an advanced supplier of electronic payment systems after it revealed the signing of a non-binding Letter of Intent purchase Information Management Solutions properties, LLCC (IMS). IMS is a proven provider of electronic bill display, paper composition, document decomposition, and printing and mailing services representing hundreds of companies, including utilities and financial institutions, covering a wide variety of industries worldwide.
IMS co-founder Kelly Dowe added, “IMS is very happy to confirm our prospective takeover by Usio. We have been supplying our clients with creative, first-class electronic bill display, paper warehousing, and large-scale print and mail solutions for the last twenty-four years. “
Under an exclusive agreement, IMS will work with Usio until the transaction is completed or terminated. The transaction details are not being disclosed at this time. As is customary, the agreement relies on the practical outcome of due diligence, the execution of an audit by IMS and the payment of a purchase price from the current cash of Usio, and the issuance to the owners of IMS of several Usio warrants yet to be decided.