Enterprise Diversified Inc. has signed a definitive merger agreement with CrossingBridge Advisors LLC. Following the deal, both firms will become wholly owned subsidiaries of a newly formed holding company, Endi Corp.

CrossingBridge is a wholly owned subsidiary of Cohanzick and RIA headquartered in Pleasantville, NY. The firm commenced its operations in 2017 in order to manage investment strategies focused on ultra-short duration, low duration high yield, responsible credit and SPACs. The firm has over $1.2 billion in assets under management.

“We are extremely excited to join forces with the ENDI team to reach our collective goals. CrossingBridge has been delivering unique and differentiated products that help our clients fill specific needs within their fixed income portfolios,” added David Sherman, founder and portfolio manager for CrossingBridge, who will become ENDI Corp.’s CEO “This merger with ENDI will help us expand our current product lineup and allow us to focus on acquisitions to expand the solutions and services that we offer as a firm. ENDI has a strong team in place, and we believe our complementary skills and contacts will further accelerate our plans for growth.”

Seward & Kissel LLP represented Enterprise Diversified, Inc. in connection with this merger with Nick Katsanos, Ted Horton, Gary Anderson, and associate Jack Rotenstein leading the team.