SHANGHAI and WENZHOU,
China, May
22, 2020 /PRNewswire/ -- Hebron Technology Co., Ltd.
("Hebron" or the "Company")
(Nasdaq: HEBT), a technology oriented enterprise group conducting
business in the pharmaceutical equipment and engineering industry
segment and financial services industry segment, today announced
that it has entered into a definitive share purchase agreement (the
"Agreement") with Nami Holding
(Cayman) Co., Ltd. ("Nami") and Nami
Holding (BVI) Co., Ltd (SPV), shareholder of Nami (the
"Seller"), to acquire all of the outstanding ordinary shares of
Nami. Nami is the parent company of a financial advisory services
group comprising subsidiaries and a contractually controlled
operating company in China.
Pursuant to the Agreement, the Seller will receive aggregate
consideration of RMB 180 million
(approximately $25.38 million) valued
as of the date the Agreement was executed, consisting of
RMB 50 million (approximately
$7.05 million) in cash and 1,562,726
shares of the Company's Class A common shares, par value
$0.001 per share, based on the
weighted average closing price for the five trading days
immediately prior to the execution of the Agreement.
"We are pleased to announce that we have entered into a
definitive share purchase agreement with Nami Holding (Cayman) Co., Ltd. and its owner
for the strategic acquisition of Nami", said Mr. Anyuan Sun, the
CEO of Hebron Technology Co. Ltd., "this acquisition, once
completed, will greatly enhance our financial advisory services
capacities and signify that we have reached a milestone in
implementing our strategic transition from a traditional industrial
technology-based product and service provider to an innovative
technology-driven and industry-based financial advisory services
provider. We believe that Nami acquisition will further enhance our
competitiveness in China's
financial services marketplace."
For a more complete description of the Nami acquisition, please
see the Company's Current Report on Form 6-K furnished with the
Securities and Exchange Commission ("SEC").
About Hebron Technology Co., Ltd.
Established in January 2005 and
headquartered in Wenzhou City, Zhejiang
Province, China, Hebron
Technology Co., Ltd. engages in research, development, and
manufacture of highly specialized valves and pipe fitting products
for use in the pharmaceutical, biological, food and beverage, and
other clean industries. The Company also offers its customers
comprehensive pipeline design, installation, construction, and
ongoing maintenance services as holistic solution services.
Following the acquisition of NiSun International Enterprise
Management Group (British Virgin
Islands) Co., Ltd., and its subsidiaries in July 2019, the Company also engages in financial
advisory services business through its subsidiaries and
contractually controlled affiliates. For more information about the
Company, please visit www.xibolun.com for equipment and
engineering business segment and https://www.fintaike.com for
financial advisory services segment.
Cautionary Note Regarding Forward-Looking
Statements
This press release contains information about Hebron's view of its future expectations,
plans and prospects that constitute forward-looking statements.
Actual results may differ materially from historical results or
those indicated by these forward-looking statements as a result of
a variety of factors including, but not limited to, risks and
uncertainties associated with its ability to raise additional
funding, its ability to maintain and grow its business both in
legacy and new segments, variability of operating results, its
ability to maintain and enhance its brand, its development and
introduction of new products and services, the successful
integration of acquired companies, technologies and assets into its
portfolio of products and services, marketing and other business
development initiatives, competition in the industry, general
government regulation, economic conditions, dependence on key
personnel, the ability to attract, hire and retain personnel who
possess the technical skills and experience necessary to meet the
requirements of its clients, and its ability to protect its
intellectual property. Hebron
encourages you to review other factors that may affect its future
results in Hebron's registration
statement and in its other filings with the Securities and Exchange
Commission. Hebron assumes no
obligation to update or revise its forward-looking statements as a
result of new information, future events or otherwise.
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SOURCE Hebron Technology Co., Ltd.