B. Riley Securities, a full-service investment bank, served as exclusive financial advisor to BitSink in its acquisition by AirJouleTechnologies in a transaction valued at up to $67 million.
Under the terms of the agreement, AirJoule acquired 100% of BitSink for $27 million upfront ($18 million in cash and $9 million in AIRJ stock), plus an earnout of up to $40 million in AIRJ stock contingent on BitSink achieving specific revenue milestones over the next three years.
The B. Riley Securities deal team included Joe Nardini Jr, Matt Spain and Noah Rich.
