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Skycorp Solar Group Limited signs a Share Acquisition Agreement to acquire the remaining 56% equity interests in Nanjing Cesun Power Co., Ltd.
Skycorp will acquire the remaining 56% of Nanjing Cesun, consolidating full ownership post-transaction.
KEY POINTS
- The acquisition price values Nanjing Cesun at USD36,062,000, supported by an independent third-party valuation.
- The transaction involves related-party considerations, as Skycorp's CEO holds direct and indirect selling interests.
- Skycorp secured USD3,000,000 in a private placement at a 30% share price discount from three institutional investors.
- All newly issued shares from both transactions are subject to six- to twenty-four-month lock-up periods.
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