According to GlobeNewswire, Nasdaq-listed UTime Limited (ticker: WTO) announced the signing of a non-binding letter of intent to acquire 100% of the equity of Feixiaohao Technology Inc., the operator of "Feixiaohao," for up to $80 million. The transaction structure consists of $64 million in equity consideration (common stock or convertible preferred stock) and $16 million in cash.
Nasdaq-listed UTime to acquire Feixiaohao for $80M
TechFlowShare
Summary
Nasdaq-listed UTime Limited (WTO) has signed a non-binding letter of intent to acquire 100% of the equity of Feixiaohao Technology Inc., the operator of a leading Web3 news and data platform, for up to $80 million. The transaction includes $64 million in equity and $16 million in cash. Feixiaohao provides real-time inflation data and analytics for the crypto and blockchain industries.
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