Business
ATIF Holdings Limited Signs Non-Binding Letter of Intent to Acquire Metra Group Limited
Irvine, California, April 28, 2026 (GLOBE NEWSWIRE) -- ATIF Holdings Limited (Nasdaq: ZBAI) (the “Company” or “ATIF”) and Metra Group Limited, a Cayman
About this update from Atif Holdings Limited
[{"type":"text","content":"Irvine, California, April 28, 2026 (GLOBE NEWSWIRE) -- ATIF Holdings Limited (Nasdaq: ZBAI) (the “Company” or “ATIF”) and Metra Group Limited, a Cayman Islands exempted company (“Metra Group”), today jointly announced that they have signed a non-binding letter of intent (“LOI”), pursuant to which ATIF proposes to acquire all equity interests of Metra Group, a company engaged in issuing verifiable physical gold backed digital coins and an unified gold coin supported financial, trading, payment, settlement and asset management ecosystem. The proposed transaction is structured as a share-for-share acquisition, whereby ATIF will issue its ordinary shares and options to the shareholders of Metra Group based on a valuation of ranging from $450 million to $550 million, or as otherwise agreed upon by the parties. ATIF will engage an independent and qualified advisor to provide a fairness analysis and report on the consideration to be paid to the shareholders of Metra Group in the proposed acquisition. The parties intend to enter into good faith negotiations towards a definitive agreement governing the transaction, subject to due diligence review. The LOI contemplates that the closing of the proposed acquisition will be subject to certain customary closing conditions, including but not limited to, approval by the boards of directors of both companies and the shareholders of ATIF, any regulatory approvals that may be required (including any required approval by Nasdaq for the listing of the ordinary shares of ATIF to be issued in connection with this transaction), execution of a voting agreement between the shareholders of Metra Group and a shareholder representative of ATIF. However, these terms are not binding, and any definitive agreement that may be reached is expected to contain other customary and negotiated terms and conditions and may contain terms and conditions different from those contemplated in the LOI. ATIF and Metra Group have agreed to an exclusivity period of up to 60 days from the date of the LOI, during which both parties will not engage in discussions or negotiations with any other party regarding a substantially similar transaction. Either party to the LOI may terminate the LOI unilaterally. As the transaction proceeds, ATIF will publicly disclose required information either through press releases or SEC filings, as a...