The9 Signed a Definitive Share Purchase Agreement to Invest in AI Unmanned Retail Store Platform KuaiJin for $1.5M Cash Consideration
Portfolio Pulse from Benzinga Newsdesk
The9 Limited (NASDAQ:NCTY) has signed a definitive share purchase agreement to invest $1.5 million in KuaiJin, an AI unmanned retail store platform in China. The9 will acquire 15% of KuaiJin and has an option to purchase up to 51% within two years. The investment includes cash and issuance of restricted shares of The9.
May 20, 2024 | 8:11 am
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The9 Limited has signed an agreement to invest $1.5 million in KuaiJin, acquiring a 15% stake with an option to increase to 51% within two years. This strategic investment could enhance The9's presence in the AI retail sector.
The investment in KuaiJin positions The9 in the growing AI unmanned retail sector, potentially increasing its market presence and profitability. The option to acquire a majority stake further strengthens this strategic move.
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