ATA Announces Private Equity Firm LHHY to Become a Buyer in ATA Online Transaction
ATAI Life Sciences N.V. - Common Shares (ATAI)
US:NASDAQ Investor Relations:
ir.atai.net.cn
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Source: GlobeNewswire
BEIJING, June 27, 2018 (GLOBE NEWSWIRE) -- ATA Inc. ("ATA" or the "Company", (Nasdaq:ATAI), a leading provider of advanced testing technologies and testing-related services in China, today announced that ATA, three of the four management buyers (the “Management Buyers”), holding companies controlled by certain management members of ATA’s subsidiary ATA Online (Beijing) Education Technology Co., Ltd. (“ATA Online”), and certain other parties have entered into a Deed of Assignment (the “Deed”) with Zhuhai Lihonghuaying Equity Investment Partnership (LP) (the “LHHY Buyer”), a China-based entity principally engaged in private equity investments, with respect to the assignment of certain rights and obligations of the Management Buyers under the previously announced share purchase agreement into which ATA, the Management Buyers, and certain other parties entered on February 6, 2018, with respect to the sale of ATA Online (the “Share Purchase Agreement”). Under the terms of the Deed, the
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