11:32 AM EDT, 03/20/2024 (MT Newswires) -- XTL Biopharmaceuticals (XTLB) said Wednesday it will acquire The Social Proxy, a web data company, to expand its assets portfolio.

XTL said it will pay Social Proxy shareholders $430,000 and issue American depositary shares representing nearly 44.6% of its issued and outstanding share capital through a private placement.

Social Proxy's shareholders will also receive additional warrants upon reaching certain milestones within three years from the closing of the deal, the company said.

XTL said it secured a commitment of $1.5 billion investment in a private placement to complete the transaction.

Shares of XTL soared nearly 136% in recent trading.

Price: 2.43, Change: +1.40, Percent Change: +135.92