HIGHWAY HOLDINGS SIGNS LOI TO LAUNCH MAJORITY-OWNED ENERGY STORAGE VENTURE WITH WOWTIGER BRAND OWNER HUAHU
Highway Holdings signed a non-binding LOI to form a majority-owned joint venture with Huahu, combining its global manufacturing platform with Huahu's energy storage technology. The proposed venture would be capitalized with $3.5 million, including $2.0 million in cash from Highway Holdings for a 57% stake, with Huahu contributing technology and products.
Key figures
- Deal Value Usd
- 3500000
- Shares Offered
- 1000000
- Jv ownership pct
- 57%
- Jv cash contribution
- 2000000
- Jv tech contribution
- 1500000
- Restricted shares milestone
- 400000
- Restricted shares myanmar bonus
- 100000
- Restricted shares component incentive
- 500000
AI analysis
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