AcquisitionsMay 21, 2026, 04:24 PM
Addentax Subsidiary Acquires 41.67% Stake in Riches Family Office
AI Summary
Addentax Group Corp., through its wholly-owned subsidiary Yingxi Industrial Chain Investment Co., Ltd, entered into a Share Exchange Agreement to acquire 41.67% of Riches Family Office Limited. The acquisition involves issuing 33,500 shares of Addentax common stock to Mr. Wu Rui, the Company's Chief Operating Officer and the sole shareholder of Riches FO Holdings Limited, making it a related-party transaction. The transaction was approved by the audit committee and board of directors on May 15, 2026, and the shares will be issued under a Regulation S exemption.
Key Highlights
- Addentax subsidiary Yingxi to acquire 41.67% of Riches Family Office Limited.
- Addentax to issue 33,500 common shares to Mr. Wu Rui as consideration.
- Mr. Wu Rui is Addentax's COO and sole shareholder of Riches FO Holdings.
- The transaction constitutes a related-party transaction.
- Approved by Addentax's audit committee and board of directors on May 15, 2026.
- Shares will be issued in reliance upon the Regulation S exemption from registration.
Price Impact
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