Lion King Holdings has signed a letter of intent with a Web3 company to promote the development of the company's AI and DeFi business

ChainCatcher news, Hong Kong-listed company Lion Group Holdings announced that it has signed a letter of intent with a potential seller to advance the company's AI and DeFi business development.

As part of the proposed acquisition, the management and the founders of the target group will provide three years of revenue and profit guarantees. The consideration for the proposed acquisition will be paid through the allotment and issuance of new shares of the company. The proposed acquisition is subject to further due diligence and the signing of a final agreement for the proposed acquisition before it becomes effective. The target group was established in Singapore and is a leader in accelerating software innovation and ecosystem development in artificial intelligence, blockchain, decentralized finance, and stablecoin technology, including the development and successful launch of stablecoin platforms and infrastructure.