JMU Limited Announced Private Placement and Acquisition of Cryptocurrency Solutions Business
JMU LTD ADS (JMU)
US:NASDAQ Investor Relations:
ir.ccjmu.com
Company Research
Source: PR Newswire
SHANGHAI, Aug. 13, 2019 /PRNewswire/ -- JMU Limited (the "Company" or "JMU") (Nasdaq: JMU) today announced that the Company has entered into definitive agreements regarding a private placement of US$4 million and an acquisition of cryptocurrency solutions business.Pursuant to a share purchase agreement, the Company will issue and sell 609,162,824 ordinary shares to a New York holding company wholly owned by Mr. Haohan Xu, the largest shareholder and a director of the Company, for a cash consideration of US$4 million.The Company has also entered into a share purchase agreement with Beijing Jiatong Huineng Technology Co., Ltd. ("Beijing Jiatong Huineng"), its affiliated offshore holding company (together with Beijing Jiatong Huineng, "Jiatong Huineng Group") and Mr. Shijie Hu, an independent third party owning Jiatong Huineng Group. Pursuant to the agreement, the Company will issue 609,162,824 ordinary shares to Mr. Shijie Hu in exchange for the entire ownership in Jiatong Huineng Group
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