Trident Digital to acquire 30% equity stake in Tongxin Innovation

Trident Digital (TDTH) Tech announced it has entered into a definitive sales and purchase agreement, SPA, to acquire a 30% equity stake in Tongxin Innovation, operator of the ToMe Web 3.0 e-commerce platform on Telegram. The proposed transaction, valued at approximately US$3 million, will be completed through the issuance of Trident’s ADSs in the form of Class B ordinary shares of Trident to Tongxin’s shareholders, and implies a total valuation of approximately US$10 million for Tongxin. The strategic investment represents a significant expansion of Trident’s Web 3.0 ecosystem and demonstrates the company’s commitment to pioneering blockchain-enabled e-commerce solutions.