Connexa Sports Technologies ( (YYAI) ) has issued an update.
In a strategic move, the Company has acquired 70% of YYEM by purchasing shares from Hongyu Zhou for $56 million, signaling a significant shift in control. The transaction was approved by Nasdaq and involved both cash and stock exchanges, leading to the Seller holding a majority of the Company’s shares. This acquisition marks a pivotal transformation in the Company’s governance and ownership structure, offering potential opportunities and challenges for investors to consider.
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