subslover
10 meses hace
NEWS
FLJ Group Limited Announces Completion of Acquisition of Alpha Mind Technology Limited and Termination of the Lianlian Acquisition
SHANGHAI, China, Dec. 28, 2023 (GLOBE NEWSWIRE) -- FLJ Group Limited (NASDAQ: FLJ) (the “Company”), today announced the completion of the transaction previously announced on November 22, 2023 between Alpha Mind Technology Limited (the “Target Company” or “Alpha Mind”), the Target Company’s shareholders (the “Sellers”) and the Company (the “Transaction”).
Pursuant to the previously announced equity acquisition agreement between the Company, Alpha Mind and the Sellers, the Company acquires all the issued and outstanding shares in the Target Company for an aggregate all-cash purchase price of US$180,000,000 or RMB equivalent, paid in the form of a promissory note (collectively, the “Notes”) delivered to each of the Sellers in an aggregate amount equal to the purchase price. The Notes have a maturity of 90 days from the closing date, bear an interest rate of three percent (3%) per annum and are secured by all of the issued and outstanding equity of the Target Company and all of the assets of the Target Company and its subsidiaries
As a result of the completion of the Transaction, Alpha Mind has become a wholly-owned subsidiary of the Company. All the senior management of the Company will stay after the completion of the Transaction.
The Company also announced today that it has, with mutual consents, terminated the equity acquisition agreement entered into with Lianlian Holdings Inc. (“Lianlian”) and certain of the Lianlian’s shareholders which was previously announced on September 29, 2023.
About FLJ Group Limited
FLJ Group Limited, through its consolidated variable interest entities, operates two primary business units: (a) an insurance agency, and (b) an insurance technology business. The insurance agency operates nationwide in the PRC with a wide range of insurance products, including but not limited to property insurance, homeowner’s insurance, life insurance, health insurance, business insurance and worker’s compensation insurance. The insurance agency is PRC-licensed and works with around 180 insurance carriers. The insurance technology business is focused on operating and developing next-generation insurance technology products in the PRC, including developing SaaS platforms to connect consumers and underwriting support.
Forward-Looking Statements
This press release contains forward-looking statements. These statements constitute “forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Among other things, the quotations from management in this press release and the Company and its subsidiaries’ (collectively, the “Group”) operations and business outlook contain forward-looking statements. Such statements involve certain risks, uncertainties and other factors that could cause actual results to differ materially from those in th
Invest-in-America
11 meses hace
FLJ: Get a LIFE!!!! Be reminded that iHub permits no more than ONE HUNDRED insulting/bashing posts vs. any ONE particular ihub'er regarding just ONE particular stock!! YOU are quickly approaching your limit, Einstein!!! Other than mocking ME 50-times every day, don't you have a HOBBY --- boating, golf, etc. --- other than bashing ME???????
PS: In passing, I only LOST $2,390 on my (stupid) final play with FLJ --- but had already scored $36,557 on FLJ during its FIRST soaring, when nobody else was interested.
Invest-in-America
11 meses hace
FLJ: I am DELIGHTED that you understood my transcendent MESSAGE behind my "PS" to that post, Bro!!! So, evidently, I am NOT the only American who understands the TRUTH as to what has ALWAYS been transpiring with those Jewish folks over there!! I.e., GRAB-IT-ALL for yourselves in 1948, & then never give-up even one square INCH of it to anybody else!!! (I was hoping that "Hamas" & the Arabs generally would once-&-for-all KICK-ASS over there, but they didn't!!! DEPRESSING to watch the SLAUGHTER by those Jews!!!! And Planet Earth does NOTHING about it!!!)