UTime Limited Plans Acquisition of Feixiaohao Technology for $80 Million

Nasdaq-listed UTime Limited has announced its intention to acquire Feixiaohao Technology Inc., a company operating the Web3 data platform Feixiaohao, for up to $80 million. According to NS3.AI, the acquisition plan involves a non-binding letter of intent, with the deal structure comprising $64 million in share consideration, either in common stock or convertible preferred stock. This strategic move aims to expand UTime's presence in the Web3 data sector.