TIAN RUIXIANG discusses potential Asia-Pacific insurtech combination

TIAN RUIXIANG Holdings Ltd (NASDAQ: TIRX) announced it is in advanced discussions for a potential business combination with an Asia-Pacific insurance technology company, according to a press release from the Beijing-based firm.

The company stated it is in "advanced and final-stage discussions" with what it describes as a leading regional insurtech operator. TIAN RUIXIANG also said it continues to pursue a previously announced Bitcoin acquisition strategy.

Under the proposed structure, the Asia-Pacific insurtech would use TIAN RUIXIANG as its public platform to access U.S. capital markets. Existing TIRX shareholders would retain ownership in the combined entity.

"We are in advanced and final-stage discussions with a leading Asia-Pacific InsurTech group for a transformative strategic business combination, in addition to continuing to advance our Bitcoin acquisition strategy," the company's CEO stated in the release.

The CEO emphasized that no definitive agreement has been reached and said the company would provide updates as appropriate.

TIAN RUIXIANG Holdings operates as a holding company providing insurance-related services in China and maintains a NASDAQ listing. The company disclosed that while discussions are ongoing, there is no assurance the talks will result in a binding agreement or completed transaction.

The press release contained forward-looking statements and noted that the company continues to evaluate its Bitcoin acquisition strategy.

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