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BGM Group Ltd, a pharmaceutical company currently trading at $0.22 per share, has completed its acquisition of Patriton Limited, according to a recent SEC filing. The transaction, which was initially announced on January 7, 2025, involved BGM Group purchasing 100% equity interest in Patriton Limited from CISG Holdings Ltd. The consideration for the acquisition amounted to 69,995,661 Class A ordinary shares of BGM Group, valued at $2.00 per share, resulting in a significant expansion of the company’s share capital. According to InvestingPro analysis, BGM Group appears undervalued based on its Fair Value calculations, despite its market capitalization of $13.89 million.
This strategic move was finalized on January 7, 2025, and the financial details were disclosed in compliance with SEC regulations. The acquisition includes Rons Intelligent Technology (Beijing) Co., Ltd. and Shenzhen Xinbao Investment Management Co., Ltd., both of which are now part of BGM Group’s financial portfolio. The company maintains strong liquidity with a current ratio of 2.59, indicating robust financial health despite its stock trading near 52-week lows.
The SEC filing includes the audited financial statements of the acquired entities for the fiscal years ending on September 30, 2024, and 2023. Additionally, BGM Group has provided unaudited pro forma consolidated combined financial statements as of September 30, 2024, offering a hypothetical view of the company’s financial position had the acquisition been completed at the start of the fiscal year. For detailed analysis and additional insights, investors can access the comprehensive Pro Research Report available on InvestingPro, which covers over 1,400 US equities with expert analysis and actionable intelligence.
It is important to note that the pro forma financial information is not indicative of future results but serves as a representation of the company’s financials for comparative purposes. This information is essential for investors to assess the financial impact of the acquisition on BGM Group’s overall performance.
The acquisition aligns with BGM Group’s growth strategy and is expected to strengthen its position in the pharmaceutical industry. The complete financial impact of this acquisition will become more apparent in the company’s future financial statements.
This article is based on information contained in a press release statement from BGM Group Ltd filed with the SEC.
In other recent news, AIX Inc. has completed the issuance of Class B ordinary shares, as detailed in a recent Form 6-K filing with the Securities and Exchange Commission. The Guangzhou-based company entered into share subscription agreements with Highest Performances Holdings Inc. and Infinew Limited, resulting in the issuance of 510 million and 490 million Class B shares, respectively. This transaction brought in a total of $1 million in gross proceeds, which AIX Inc. plans to use for general working capital purposes. Following the issuance, Highest Performances Holdings Inc. now owns 51.67% of the company’s total issued and outstanding ordinary shares and holds 51.01% of the aggregate voting power. Infinew Limited possesses 22.99% of the ordinary shares and 48.45% of the voting power. Class B shares grant significant voting rights, with each share providing 100 votes compared to one vote per Class A share. These shares can be converted into Class A shares at the holder’s option, subject to board approval, and automatically convert under certain conditions. The issuance is part of AIX Inc.’s broader capital management strategy, as outlined in their SEC filing.
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