FLJ Group’s Acquisition News Sends Shares Soaring
FLJ Group’s Acquisition News Sends Shares Soaring

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FLJ Group Ltd’s shares, represented by the ticker FLJ, are trading significantly higher by 93%. This surge follows the company’s announcement of the completion of the acquisition of Alpha Mind Technology Limited and the termination of the Lianlian buyout.

On November 22, the company finalized an equity acquisition deal with Alpha Mind Technology and the Target Company’s shareholders for a substantial $180 million. Notably, the acquisition price was paid through a promissory note, featuring a maturity of 90 days from the closing date and an interest rate of 3% per annum.

As a result of the acquisition closure, Alpha Mind has become a wholly-owned subsidiary of FLJ Group. Additionally, FLJ terminated the previously announced equity acquisition deal with Lianlian Holdings and certain Lianlian shareholders.

FLJ shares are currently up 93.33% at $2.61 in premarket trading as of the last check on Friday.

Photo by Capri23auto from Pixabay

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