DealsJun 12, 2026, 05:16 PM
Datasea Subsidiary Acquires Patents for RMB 7M via Share Issuance
AI Summary
Datasea Intelligent Technology Ltd. (DTSS) announced that its wholly-owned subsidiary, Tianjin Information Sea Information Technology Co., Ltd., has entered into a Patent Asset Purchase Agreement to acquire patent intangible assets from Tianjin Qianli Culture Media Co., Ltd. for RMB 7 million. The purchase price will be settled through the issuance of Datasea's Class A ordinary shares to two individuals designated by the seller, subject to board approval and compliance with relevant regulations. The transaction aims to bolster the subsidiary's business development and technology applications. Share issuance is subject to strict caps to comply with Nasdaq rules and beneficial ownership limitations.
Key Highlights
- Datasea Intelligent Technology Ltd. subsidiary Tianjin Information Sea Information Technology Co., Ltd. to acquire patent intangible assets for RMB 7 million.
- Purchase price to be paid by Datasea issuing Class A ordinary shares to two individuals designated by the seller.
- The acquisition includes patents, technical materials, and related intangible asset rights.
- The number of shares issued will be capped at 19.99% of Datasea's total shares outstanding prior to issuance.
- Each recipient, along with affiliates, cannot beneficially own more than 9.99% of Datasea's total shares post-issuance.
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