Acquisition/Asset Disposal - Form 8-K

Item 2.01 Completion of Acquisition or Disposition of Assets

Closing of the Transaction

On Apr 17th, 2024, Next Technology Holding Inc. (the "Company"), a Wyoming corporation, successfully completed the acquisition of 2,000 ordinary shares of Future Dao Group Holding Limited, an exempted company incorporated under the laws of the Cayman Islands (the "Target"). The acquisition was facilitated through a share purchase agreement (the "Purchase Agreement") with certain existing shareholders (the "Sellers") of the Target. The Company has filed a copy of the Purchase Agreement along with the previous Form 8-K dated March 1, 2024, which disclosed the entry into such agreement under Item 1.01.

Method of Payment

The transaction was completed at a per share purchase price of $6,698, for an aggregate purchase price of $13,396,000. The Purchase Price was paid by issuing 3,940,000 shares of common stock of the Company at an agreed-upon valuation of $3.4 per share.

Purpose and Expected Benefits

The Company has strategically pursued the acquisition of the Target to significantly bolster its presence in the burgeoning Bitcoin mining industry. The completion of this transaction is aimed at expanding the Company's holdings of Bitcoin assets and enhancing its strategic layout in the Bitcoin mining field, positioning the company at the forefront of cryptocurrency innovation and profitability.

Financial Impact and Future Prospects

The Purchased Shares represent approximately 20% of the issued and outstanding share capital of Target as of the date of the Purchase Agreement. This transaction is anticipated to be accretive to earnings per share and is expected to significantly enhance revenue and profitability through combined operations and market expansion.