Iconic Labs has entered into a non-binding heads of terms deal to acquire ITS Holdings 2023 Ltd, which owns In The Style Fashion Ltd, the online fashion retail business. If and when completed, this would constitute a reverse takeover, according to Iconic Labs. Shares in Iconic Labs PLC were suspended on Feburary 29th, 2024.
Brad Taylor, CEO Iconic Labs PLC said: “We are delighted to have entered into a heads of terms to acquire ITS Holdings 2023 Ltd. This transaction has been one of multiple opportunities carefully considered by the board of Iconic, and we believe this proposed acquisition meets our objectives and wider strategy of fostering long-term growth and value for our shareholders.”
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