12:24 PM EDT, 03/14/2024 (MT Newswires) -- Grom Social Enterprises ( GROM ) said Thursday it has a nonbinding letter of intent to acquire Arctic7.

Arctic7 said it will operate as a division within Grom, and the companies plan to look for partnership opportunities and titles.

Grom shares rose 5.2% in recent trading Thursday.

Price: 1.01, Change: +0.05, Percent Change: +5.21