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Investing.com -- Taoping Inc. (NASDAQ:TAOP) stock soared 36.4% in premarket trading Tuesday after the company announced it had completed the acquisition of Skyladder Group Limited.
The British Virgin Islands-based company closed the deal on November 26, acquiring 100% equity interest in the Hong Kong company from Skyladder Holding Limited. The acquisition was valued at approximately RMB 152 million (US$21.36 million), paid entirely through the issuance of 7,882,921 ordinary shares of Taoping.
According to the company’s filing with the U.S. Securities and Exchange Commission, the newly issued shares will initially be subject to transfer restrictions. These restrictions may be lifted in tranches based on the achievement of specific revenue and profit targets.
Taoping also entered into a Supplemental Agreement on November 25, amending the original Share Purchase Agreement signed in September. The amendment specifies that if Skyladder Group achieves audited operating revenue of RMB 8.16 million and net profit after tax of RMB 440,000 between December 1 and December 31, 2025, then 1,576,584 ordinary shares will be unlocked from the transfer restrictions.
The transaction was originally announced on September 30, 2025, when Taoping first disclosed the Share Purchase Agreement through its wholly owned subsidiary, Taoping Holdings Limited.
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