Current Report
Filed: 2026-04-28
Key Insights
- Addentax is acquiring 100% equity of Time Is Loan Limited (a Hong Kong company) for 137,790 shares of common stock, representing a material business expansion through a share exchange transaction.
- The acquisition was valued using an independent third-party valuation report from Valtech Valuation Advisory Limited dated April 21, 2026, suggesting fair market valuation practices, though the specific valuation amount is not disclosed.
- The shares are being issued under Regulation S as an offshore transaction to a non-U.S. person seller, meaning they will carry restrictive legends and may have liquidity constraints for the recipient.
- Closing of the transaction is contingent upon filing a Nasdaq Listing of Additional Shares Notification form, indicating the company will need to obtain exchange approval for the share issuance before the deal can close.