U.S. publicly traded company Addentax Group plans to acquire up to 12,000 bitcoins

BlockBeats News, July 2nd, according to prnewswire, Addentax Group Corp. (NASDAQ: ATXG) announced today that it has signed a non-binding term sheet with a significant independent Bitcoin holder, intending to acquire up to 12,000 bitcoins, significantly increasing the potential acquisition size from the initially discussed 8,000 bitcoins in the company's May 15, 2025 press release. Based on the current market price, the proposed acquisition's total value is approximately $1.3 billion. If the transaction is completed, it will be settled through the issuance of the company's newly issued common stock.

This term sheet outlines the preliminary framework of the proposed acquisition, but further negotiations, signing of a definitive agreement, completion of due diligence, and obtaining customary approvals are still required. The final amount of bitcoins to be acquired, the number of shares to be issued, and the issuance terms (including pricing) will be determined through mutual negotiations.

Previously, on May 15, 2025, the company announced discussions with several independent Bitcoin holders. Currently, the company has signed a non-binding term sheet with one of the key holders who is willing to sell up to 12,000 bitcoins (BTC) in exchange for company shares. This has increased the potential acquisition size from the initially agreed-upon 8,000 bitcoins (BTC) to 12,000 bitcoins (BTC).