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TD Holdings [NASDAQ: GLG] Inks Letter of Intent with Guangdong Jinbochuang

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TD Holdings, Inc. [NASDAQ: GLG] has inked a letter of intent (LOI) with Guangdong Jinbochuang Special Purpose Vehicle Co., Ltd. and (Jinbochuang) and Hunan Jinmeike New Material Co., Ltd. (Jinmeike) and their shareholders to purchase both Jinbochuang and Jinmeike to enter into the unpopular logistics and new energy vehicle industry.

In accordance with the LOI, the firm decided to buy 100% of the equity interests of Jinbochuang and Jinmeike in exchange for a certain amount of shares of common stock of the firm be determined based on the firm’s due diligence and the party’s cooperation. Furthermore, the management of the firms is anticipating that the deal will be executed within 180 days after the signing of the LOI.

Moreover, the LOI has also granted the option to either firm that they can dismiss the LOI separately. As the deal moves forward, the firm will publicly reveal necessary information either through press releases or SEC filings, as suitable.

Additionally, the execution of the deal is dependent on the due diligence inquiry by the appropriate parties. It also depends on the cooperation and completion of a conclusive share exchange agreement, fulfillment of the conditions conveyed within involving the authorization of the firm’s Board of Directors. Moreover, the authorization by Nasdaq of the listing of shares issued in the deal is also required, and the fulfillment of other traditional execution conditions.

There can be no guarantee that a conclusive deal will be entered into or that the suggested deal will be accomplished. Further, readers are alerted that those sections of the LOI that explain the suggested deal, involving the payment to be issued therein, are non-binding.

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