Addendax Group, a US listed company, plans to acquire up to 12000 bitcoins

BlockBeats news, July 2nd, according to prnewswire, Addenntax Group Corp. (NASDAQ: ATXG) announced today that it has signed a non binding term sheet with an important independent Bitcoin holder to acquire up to 12000 bitcoins, significantly increasing the potential acquisition size compared to the 8000 bitcoins initially discussed in the company's press release on May 15, 2025. Based on current market prices, the total market value of the proposed acquisition is approximately $1.3 billion. If the transaction is completed, it will be settled through the issuance of new common stocks by the issuing company. This term sheet outlines the preliminary framework for the proposed acquisition, but still requires negotiation and signing of the final agreement, completion of due diligence, and obtaining routine approvals. The final number of bitcoins to be acquired, the number of shares to be issued, and the terms of issuance (including pricing) will be determined through negotiation between both parties. Previously, on May 15, 2025, the company announced negotiations with multiple independent Bitcoin holders. At present, the company has signed a non binding term sheet with one of its major holders, who has expressed willingness to sell up to 12000 bitcoins (BTC) in exchange for the company's common stock. This increases the potential acquisition size from the initially agreed upon 8000 bitcoins (BTC) to 12000 bitcoins (BTC).