BGM Group Shares Rise After Deal to Buy AI Technology Company

Dow Jones

Mar 19

By Chris Wack

BGM Group shares were up 14%, to $11.70, after the company said it was buying YX Managaement, a smart mobility technology company, in a deal valuing YX at $95 million.

The technology company said it has signed a definitive agreement with the existing shareholders of YX Management in which it will buy 100% of the equity interests of YX by issuing 47.5 million shares to its existing shareholders.

BGM said the YX acquisition will speed up the AI-driven strategic upgrade of its intelligent platform, DuXiaoBao.

The transaction is expected to be completed by June. YX's existing shareholders will collectively hold about 32.8% of BGM's total outstanding and issued ordinary shares and 2.2% of its voting power.

BGM shares hit their 52-week high of $14.78 on Jan. 8, and are up 295% in the past 12 months.

Write to Chris Wack at chris.wack@wsj.com

(END) Dow Jones Newswires

March 19, 2025 10:31 ET (14:31 GMT)

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YX's existing shareholders will collectively hold about 32.8% of BGM's total outstanding and issued ordinary shares and 2.2% of its voting power. \n\n\n  BGM shares hit their 52-week high of $14.78 on Jan. 8, and are up 295% in the past 12 months. \n\n\n \n\n\n  Write to Chris Wack at chris.wack@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  March 19, 2025 10:31 ET (14:31 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}