On December 19, 2022, Freshii Inc. announced its agreement to be acquired by Foodtastic Inc. All outstanding shares of Freshii will be bought for $2.30 each, summing up to an approximate total of $74.4 million. This price represents a significant premium over Freshii's recent share prices, offering immediate liquidity to Freshii shareholders. Stephen Smith, representing Freshii's independent directors, sees this as a beneficial move for shareholders. Freshii’s CEO, Daniel Haroun, believes the acquisition will unlock more growth potential for Freshii, backed by Foodtastic's larger scale. Peter Mammas, Foodtastic’s CEO, expressed enthusiasm about incorporating Freshii into their portfolio. The transaction is expected to finalize in the first quarter of 2023, following necessary approvals. The acquisition deal has received unanimous board support, and Matthew Corrin, Freshii’s founder, alongside other key stakeholders, have agreed to vote in favor of the arrangement.