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Public company Addentax signs a $1.3 billion term sheet to acquire 12,000 Bitcoins.
PANews, July 2 news, according to a report by PR Newswire, Nasdaq-listed company and clothing manufacturer Addentax Group Corp. announced that it has signed a non-binding term sheet with a significant independent Bitcoin holder to acquire up to 12,000 Bitcoins, significantly increasing the potential acquisition scale compared to the initially discussed 8,000 Bitcoins in the company's press release on May 15, 2025. Based on current market prices, the total market capitalization of the proposed acquisition is approximately $1.3 billion. If the transaction is completed, it will be settled through the issuance of newly issued common stock of the company.