Public Policy Holding Company completes acquisition of Tancredi for £8.0M, issues 111,948 shares

Public Policy Holding Company completed acquisition of Tancredi, a move that adds 22 staff and £4.3M 2025 revenues and expands TrailRunner International's EMEA footprint.

Key Highlights:

• Acquisition of Tancredi completed July 1, 2026; Tancredi to operate as part of TrailRunner International.
• Initial consideration £8.0M: £7.2M cash and 111,948 new common shares issued at $9.42 each (≈£0.8M).
• Tancredi reported 2025 unaudited net revenues £4.3M and profit before tax £1.3M; net assets £1.8M.
• Aggregate consideration can reach up to £25M via two earnouts tied to profit growth through 2030, payable in cash and equity.
• Acquisition adds 22 employees, offices in London, Milan and Los Angeles, and names Salamander Davoudi Global Head of Litigation.

Original SEC Filing:

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