RocketFuel Blockchain transfers payments assets to RPay, wipes out 1M USD debt
By: cryptoslate.com|2026/08/22 18:25:40
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RocketFuel Blockchain transferred nearly all assets from its payments business to RPay, led by Peter M. Jensen, who is also a RocketFuel director. The transaction, which closed on Aug. 13 and was disclosed on Aug. 21, involved intellectual property, contracts, merchant relationships, cash, and accounts receivable. RPay assumed 800000 USD in deferred compensation owed to Jensen and 200000 USD owed to former director Bennett J. Yankowitz, relieving RocketFuel of these obligations. No cash payment to RocketFuel was disclosed; instead, the filing noted the consideration received by the company. Additionally, RocketFuel obtained a warrant for 160000 RPay common shares, subject to a 1 million USD repurchase right by RPay. Jensen's interests were stated to differ from those of general stockholders due to the compensation assumption and warrant terms. RocketFuel's board concluded that a stockholder vote was unnecessary under NRS 78.565, approving the transaction based on a fairness memorandum rather than an independent valuation.
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