8-K - Senmiao Technology Ltd (0001711012) (Filer)

Wed, Aug 14, 8:56 PM (153 days ago)

On August 8, 2024, Senmiao Technology Limited's subsidiary, Sichuan Senmiao Zecheng Business Consulting Co., Ltd., entered into an Acquisition Agreement with Jiangsu Yuelaiyuexing Technology Co., Ltd. The agreement involves the acquisition of 100% equity interest in Hunan Xixingtianxia Technology Co., Ltd., a wholly-owned subsidiary of Senmiao. The transaction includes a Debt Assumption component, where the Purchaser will take on all external debts of the Target, while Senmiao will settle the Target's employee compensation obligations before October 15, 2024. The Acquisition is set to close in September 2024, pending customary conditions. No cash consideration will be exchanged besides the Debt Assumption. The completion of this acquisition may impact Senmiao's financial position, but uncertainties remain regarding the fulfillment of closing conditions. This event could influence investor perception and stock value, particularly if the acquisition proceeds as planned.