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MissionIRNewsBreaks – Tingo Inc. (TMNA), MICT Inc. (NASDAQ: MICT) File Form S-4 Merger Registration and Joint Proxy Statement

Tingo (OTC: TMNA) and MICT (NASDAQ: MICT) today announced that they have filed a registration and joint proxy statement with the Securities and Exchange Commission (“SEC”) in connection with their anticipated merger. According to the update, the merger is expected to create a >$1.0 billion annualized revenue and highly profitable fintech and agri-fintech company serving the African and Asian markets with a global expansion strategy. The SEC will now review the submission and, following its review and the registration statement being declared effective, shareholders of each company will have the ability to approve the merger. Upon approval of stockholders and the satisfaction of other certain conditions, the merger will close, which is expected to occur between end of the third quarter and the early part of the fourth quarter of 2022.

“We are excited to combine Tingo’s operations with MICT to create a world class global fintech and agri-fintech firm,” said Tingo’s CEO Dozy Mmobuosi, who will become the group CEO following the merger. “The merger represents an incredible opportunity for both Tingo and MICT to expand our businesses and service offerings in new markets while also benefiting from being a Nasdaq-traded company, which in turn is expected to generate increased visibility and growth opportunities for us and our investors. Tingo has achieved substantial growth in revenue and profitability in recent years, which is now driven by our Nwassa agri-fintech platform, and such growth is expected to continue, including through the launch of our TingoPay super app, in partnership with VISA.”

To view the full press release, visit https://ibn.fm/a3K07

About Tingo Inc.

Tingo is the leading agri-fintech company operating in Africa, with a marketplace platform that empowers social upliftment through mobile, technology and financial access for rural farming communities. Tingo’s novel “device-as-a-service” model allows it to add market leading applications to enable customers to trade, buy top ups, pay bills, access insurance and lending services. With 9.3 million existing customers, Tingo is seeking to expand its operations across select markets in Africa. Tingo’s strategic plan is to become the eminent pan-African agri-fintech business delivering social upliftment and financial inclusion to millions of SME farmers and women-led businesses.

NOTE TO INVESTORS: The latest news and updates relating to TMNA are available in the company’s newsroom at https://ibn.fm/TMNA

About MissionIRNewsBreaks

MissionIRNewsBreaks provide a rapid summary of corporate news that catch the attention of MissionIR. MissionIRNewsBreaks are created by our Team of professional journalists that keep a constant eye on the markets, these posts are designed to inform you on the latest happenings of our clients and other publicly traded companies on our radar. From earnings, acquisitions and agreements to conference attendance and clinical study results, our news breaks keep you up-to-date with the day’s top movers. MissionIR is primarily focused on strategic communications. We have executed countless communications programs to address the needs of companies ranging from start-ups to established industry leaders, gaining valuable experience and the expertise necessary to determine the most effective strategy for any given situation.

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