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Listed Company UTime Proposes to Acquire Web3 Data Platform "Feixiaohao" for $80 Million
Nasdaq-listed UTime Limited (ticker: WTO) announced the signing of a non-binding letter of intent to acquire 100% equity stake of Feixiaohao Technology Inc., the operator of "Feixiaohao," for up to $80 million. The transaction structure consists of $64 million in stock consideration (common shares or convertible preferred shares) and $16 million in cash.