Luokung Technology Corp. Announces Acquisition of 51% of EMG and strategic investments from Geely Technology and Acuitas Capital
Luokung Technology Corp - Ordinary Shares (LKCO)
Company Research
Source: PR Newswire
BEIJING, Nov. 13, 2019 /PRNewswire/ -- Luokung Technology Corp. (NASDAQ: LKCO) ("Luokung" or the "Company"), one of the global leading spatial-temporal big-data processing technology companies, a leading interactive location-based services company in China, today announced that Geely Technology Group Co. Ltd (hereinafter referred to as "Geely Technology") and Acuitas Capital, LLC (hereinafter referred to as "Acuitas") have made strategic investments in Luokung Technoloy Corp. through the purchase of preferred shares and common stock. The investment of USD $42.5 million from Geely prompt the Company to complete the acquisition of 51% of eMapgo Technologies (Beijing) Co., Ltd. (hereinafter referred to as the "EMG") (the "Acqusition"). As a result, the Company will immediately begin to consolidate the financial results of EMG, which will be reflected in the Company fourth quarter and year-end financial results. The Company anticipates receiving funding of up to $100 million from Acuitas
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Sec Filings
- 4/30/24 - Form 6-K
- 4/16/24 - Form 6-K
- LKCO's page on the SEC website