Business

Tian Ruixiang Holdings Ltd (NASDAQ: TIRX) Initials Planned Collaboration Contract with Anhui Anqing Road Transport Administrative Center

TIAN RUIXIANG Holdings Ltd (NASDAQ: TIRX), a China-based indemnification agent, proclaimed today that it arrived at a complete planned collaboration contract with Anqing Road Transport Administrative Center of Anhui Province on June 15, 2021. Pursuant to the Contract, the company will deliver Anqing Road Transport Administrative Center with expert jeopardy administration facilities.

Anqing Road Transport Administrative Center is a community safety unit at the sub-county level under the Anqing Municipal Transport Bureau and is accountable for providing direction and government facilities to the city’s thoroughfare and transport business counting but not partial to manufacture safety, crisis response, environmental defense, energy protection, national defense conveyance, credit system organization, There are about 824,000 automobiles and 1.24 million drivers listed in the Anqing city.

Zhe Wang, the Chairman and Chief Executive Officer of TIRX observed, “Our collaboration with Anqing Road Transport Administrative Center will offer Anqing city with specialized danger management services. It is a win-win for both Anqing city and our business. Going onward, we will endure to seek collaboration openings with government units and provide modified answers and facilities to meet the requirements of our clienteles.”

The company also proclaimed today the first concluding of its beforehand proclaimed best-effort follow-on public proposing for the auction of up to 4,800,000 components offered by the company at a purchase price of $7.50 per unit. The first closing of 2,000,000 components for collective gross profits of $15 million was completed pursuant to the terms of a Securities Acquisition Contract between the company and several established stockholders, dated June 2, 2021. Each component contains one Class A ordinary share of the company and one permit to securing one Class A ordinary share of the company. Each security has a used price of $8.00 per Class A ordinary share. The company may vend additional units to these established stockholders in one or more extra closings on the same footings as the units bought at the first closing until the previous auction of the all-out amount of 4,800,000 units and the end of the contribution by July 17, 2021, save revised.

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