The technology company Sociallite Us has, following the general meeting’s resolution on December 10, completed the sale of all subsidiaries and submitted a private placement for registration, which entails a comprehensive restructuring. The Company is now a debt-free publicly listed shell company and intends to use this position to actively seek a reverse acquisition in order to add a new value-creating business."Through this restructuring, Sociallite US now stands as a debt-free and streamlined company. We are now moving on to the next step of our plan, where we are actively working to add a new business to the Company and create long-term value for our shareholders," says CEO Hampus Rosencranz.