BUUU Group signs deal to buy 60% stake in modular data center provider Brightray Science - BUUU News | RalliesBUUU Group signs deal to buy 60% stake in modular data center provider Brightray Science
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BUUU• Management changes and headquarters plan
- The transaction also brings Brightray founder Bin Wang in as executive director and co-CEO.
- BUUU plans to relocate its headquarters to Singapore.
BUUU to acquire controlling stake in Brightray Science
- BUUU agreed to buy a 60% stake in Brightray Science, a prefabricated modular data-center solutions provider, making it a consolidated subsidiary.
- Consideration includes newly issued Class A shares priced at USD 20 per share, alongside a convertible note for up to 10 million shares.
- The convertible note is subject to adjustment tied to Brightray’s audited annual net profit, capped at 19.99% of BUUU shares outstanding.
- Sellers will retain 40% of Brightray; BUUU secured a call option to buy the remaining stake within three years of closing.
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