Business
ATIF Holdings Limited Announces Closing of Sale of Leaping Group Co, Ltd.
LOS ANGELES, Feb. 4, 2021 /PRNewswire/ -- ATIF Holdings Limited (Nasdaq: ATIF, the "Company"), a holding group providing business and financial consulting in
About this update from Atif Holdings Limited
[{"type":"text","content":"LOS ANGELES, Feb. 4, 2021 /PRNewswire/ -- ATIF Holdings Limited (Nasdaq: ATIF, the \"Company\"), a holding group providing business and financial consulting in Asia and North America, today announced the closing of the sale of Leaping Group Co., Ltd (\"Leaping\") contemplated by its previously announced Sale and Purchase Agreement Regarding Issued Shares of Leaping Group Co., Ltd. (the \"Agreement\"), pursuant to which the Company sold all of its shares of Leaping to Jiang Bo, Jiang Tao and Wang Di (collectively, the \"Buyers\") in exchange for (i) 5,555,548 ordinary shares of the Company owned by the Buyers and (ii) payment by the Buyers in the amount of US$2,300,000 plus interest at an interest rate of 10% per annum on the unpaid amount if the principal amount of US$2,300,000 is not paid by January 14, 2022. All principal and accrued and unpaid interest shall be due on January 14, 2023. The closing of the Agreement took place on January 29, 2021 and Leaping is no longer a subsidiary of the Company. \nAbout ATIF Holdings Limited\nHeadquartered in Los Angeles, California, ATIF Holdings Limited (\"ATIF\") is a holding group with asset management, investment holding and online financial information business and provide business consulting services to small and medium-sized enterprises in Asia and North America. ATIF operates an internet-based financial information service platform IPOEX.com, which provides prestige membership services including market information, pre-IPO education, IR media and matchmaking services between SMEs and financing institutions. ATIF's investment holding business is to provide going public consulting, M&A consulting and financial consulting services to SMEs. ATIF has advised several enterprises in China in their plans to become publicly listed in the U.S. ATIF plans to launch securities investment service and investment advisory in Q1 2021. For more information, please visit https://ir.atifchina.com/.\nForward-Looking Statements\nCertain statements made in this release are \"forward looking statements\" within the meaning of the \"safe harbor\" provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words \"estimates,\" \"projected,\" \"expects,\" \"anticipates,\" \"forecasts,\" \"plans,\" \"intends,\" \"believes,\" \"seeks,\" \"may,\" \"wil...