2023-05-26 09:28:31 ET
- Logistics and transportation services company MingZhu Logistics Holdings ( NASDAQ: YGMZ ) said on Friday that it is set to acquire 100% of Alliance Liquor Investment (BVI).
- The acquisition will be made in exchange for the issuance of 4.6M shares, upon closing.
- Alliance Liquor shareholders shall also receive an additional first earnout payment of $8.04M and second earnout payment of $8.04M, if the net income of Alliance Liquor is no lower than $2M for FY23 and FY24, respectively.
- YGMZ shares were trading +7.00% pre-market.
- Source: Press Release
For further details see:
MingZhu Logistics to acquire 100% of Alliance Liquor Investment