Addentax Group enters into non-binding term sheet to acquire 12,000 Bitcoins
Acquisition Announcement: Addentax Group has entered a non-binding term sheet to acquire up to 12,000 Bitcoins from a significant independent holder, increasing the potential acquisition size from the previously discussed 8,000 BTC.
Transaction Details: The proposed acquisition, valued at approximately $1.3 billion based on current market prices, will be settled through newly issued shares of the Company's common stock and is subject to further negotiations and approvals.
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Addentax Group Corp. Enters Into US$1.3 Billion Term Sheet for Proposed Acquisition of Up to 12,000 Bitcoins
Acquisition Announcement: Addentax Group Corp. has entered a non-binding term sheet to acquire up to 12,000 Bitcoins from a substantial holder, increasing the potential acquisition size from the previously discussed 8,000 BTC, with an estimated market value of approximately $1.3 billion.
Investment Strategy: The company aims to enhance its long-term Bitcoin investment strategy, leveraging the current bullish momentum of Bitcoin, while the final terms of the acquisition will be determined through mutual agreement and are subject to due diligence and approvals.
