CLEU - China Liberal Education to acquire energy vehicle brand AIWAYS

• China-based China Liberal Education Holdings ( NASDAQ: CLEU ) is set to acquire AIWAYS Holdings, energy vehicle brand.
• The issued and outstanding share capital of AIWAYS will be cancelled in exchange for newly issued shares of the CLEU.
• AIWAYS is valued at $5.5B, while CLEU is valued at ~$37.9M.
• The AIWAYS shareholders will own ~99.2% of the combined company. CLEU shareholders will own 0.8%.
• CLEU shares will be divided into class A ordinary shares and class B ordinary shares, with different voting powers but equal economic rights, immediately before the completion of the transaction.
• The transaction is expected to complete on or prior to Dec. 31.
• CLEU shares were trading -13.04% pre-market.
• Source: Press Release

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