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Addentax Group Corp. Enters Into US$1.3 Billion Term Sheet for Proposed Acquisition of Up to 12,000 Bitcoins
SHENZHEN, China, July 2, 2025 /PRNewswire/ -- Addentax Group Corp. (Nasdaq: ATXG) (the "Company") today announced that it has entered into a non-binding term
About this update from Addentax Group Corp.
[{"type":"text","content":"SHENZHEN, China, July 2, 2025 /PRNewswire/ -- Addentax Group Corp. (Nasdaq: ATXG) (the \"Company\") today announced that it has entered into a non-binding term sheet with a substantial and independent Bitcoin holder to acquire up to 12,000 Bitcoins, significantly increasing the potential acquisition size from the originally discussed 8,000 BTC as disclosed in the Company's May 15, 2025 press release. Based on prevailing market prices, the proposed acquisition represents an aggregate market value of approximately US$1.3 billion. If completed, the transaction would be settled through the issuance of newly issued shares of the Company's common stock.\n\nThis term sheet outlines the preliminary framework for the contemplated acquisition and remains subject to the negotiation and execution of a definitive agreement, the satisfactory completion of due diligence, and customary approvals. The final number of Bitcoins to be acquired, the number of shares to be issued, and the issuance terms (including pricing) will be determined through mutual agreement.\nThis development follows the Company's announcement on May 15, 2025 regarding its discussions with multiple independent Bitcoin holders. The Company has now executed a non-binding term sheet with one of the substantial holders, who has expressed a willingness to sell up to 12,000 BTC in exchange for the Company's shares of common stock. This increases the potential acquisition size from the originally discussed 8,000 BTC to 12,000 BTC.\nThe Company's management has expressed a strong intention to allocate significant resources to its long-term Bitcoin investment strategy, aiming to capitalize on the current bullish momentum of Bitcoin given its global recognition and liquidity.\nAbout Addentax Group Corp.\nAddentax Group Corp. is an integrated service provider specializing in garment manufacturing, logistics services, and property management and subleasing. For more information about the Company, please visit the website: https://www.addentax.com/.\nCaution Concerning Forward Looking Statements\nAll statements other than statements of historical fact in this announcement are forward-looking statements in nature within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve known and unknown risks and uncertainties and are based on cu...