Addentax signs $1.3 billion term sheet to acquire 12,000 bitcoins
2025/07/02 21:38
PANews reported on July 2 that according to PR Newswire, Nasdaq-listed clothing manufacturer Addentax Group Corp. announced that it has signed a non-binding terms list with a major independent Bitcoin holder to purchase up to 12,000 Bitcoins, a significant increase in the potential acquisition size from the 8,000 Bitcoins initially discussed in the company's press release on May 15, 2025. Based on current market prices, the total market value of the proposed acquisition is approximately US$1.3 billion. If the transaction is completed, the transaction will be settled by issuing newly issued common shares of the company.
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