Zinger Key Points
- FLJ completes transaction previously announced on November 22, 2023 with Alpha Mind Technology.
- FLJ terminates the equity acquisition agreement entered into with Lianlian.
- Get Monthly Picks of Market's Fastest Movers
FLJ Group Ltd FLJ shares are trading higher by 93% after the company disclosed the completion of the acquisition of Alpha Mind Technology Limited and the termination of the Lianlian buyout.
On November 22, the company penned an equity acquisition deal with Alpha Mind Technology and the Target Company's shareholders for $180 million.
The company paid the acquisition price as a promissory note, with a maturity of 90 days from the closing date and an interest rate of 3% per annum.
With the buyout closure, Alpha Mind has become a wholly-owned subsidiary of FLJ.
Apart from this, FLJ terminated the previously announced equity acquisition deal with Lianlian Holdings and certain Lianlian shareholders.
Price Action: FLJ shares are up 93.33% at $2.61 premarket on the last check Friday.
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