Li Bang International agrees to buy 50.1% stake in Jiangsu Xinsheng Synthetic Materials
LBGJ•Li Bang International agreed to acquire a 50.1% stake in Jiangsu Xinsheng Synthetic Materials for $23 million in cash, payable in three installments, and 2 million Class A ordinary shares.
1. Acquisition terms
Li Bang International agreed on November 3, 2026, to acquire 50.1% of Jiangsu Xinsheng Synthetic Materials. The purchase price comprises $23 million in cash, payable in three installments, and 2 million Class A ordinary shares.
2. Closing conditions
The first closing requires the share issuance and a $3 million payment within 10 business days of signing. Equity transfers will follow at subsequent closings. A three-year protection mechanism requires additional shares after reverse splits to preserve sellers’ aggregate holding of 2 million consideration shares.
