ATA Announces Extension of Closing Deadline for the Acquisition of Beijing Biztour
January 18 2019 - 8:00AM
ATA Inc. ("ATA" or the "Company", Nasdaq: ATAI), a
company focused on providing students with quality educational
experiences and services in China and abroad, today announced that
the Company entered into an extension agreement (the “Extension
Agreement”) with respect to the previously announced definitive
acquisition agreements (the “Acquisition Agreements”) entered into
between ATA and its affiliates, Beijing Biztour International
Travel Service Co., Ltd. and its affiliates (“Beijing Biztour”),
the shareholders of Beijing Biztour (the “Sellers”) and certain
other relevant parties. According to the Extension Agreement, the
parties agreed to extend the closing deadline under the Acquisition
Agreements from December 31, 2018 to February 28, 2019, provided
that all the closing conditions under the Acquisition Agreements
and the Extension Agreement shall be satisfied by Beijing Biztour
and the Sellers by then. The Extension Agreement will be available
as an exhibit to a Form 6-K that will be furnished on the SEC EDGAR
filing system on the same date as the issuance of this release. ATA
cautions investors that there are no assurances that the
Acquisition will finally close or will close by the newly extended
deadline as planned. The Company is also exploring other potential
mergers and acquisitions targets in the international education
sector.
About ATA Inc.ATA is focused on
providing quality educational experiences and services for students
throughout China and abroad. ATA aims to offer online, on-campus,
and other education programs through a network of global education
partners. For more information, please visit ATA’s website at
www.atai.net.cn.
Cautionary Note Regarding
Forward-looking StatementsThis announcement contains
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, and as defined in the
Private Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by terms such as
"believe," "could," "expect," "future," "look forward to," "plan,"
"should," "will," and similar terms. Examples of forward-looking
statements in this press release include statements about ATA’s
plans for mergers and acquisitions generally; and ATA’s anticipated
acquisition of Beijing Biztour, the anticipated benefits and risks
of such acquisition, and subsequent business activities. These
forward-looking statements involve known and unknown risks and
uncertainties, are based on current expectations, assumptions,
estimates, and projections by ATA, and are subject to governmental
approvals and other conditions. The Company undertakes no
obligation to update forward-looking statements, except as may be
required by law. The Company cannot assure you that its
expectations and assumptions will turn out to be correct, and
investors are cautioned that actual results may differ materially
from the anticipated results.
For more information on our company, please
contact the following individuals: |
At
the Company |
Investor Relations |
|
ATA
Inc. |
The
Equity Group Inc. |
|
Amy
Tung, Chief Financial Officer |
Adam
Prior, Senior Vice President |
|
+86
10 6518 1122 x5518 |
212-836-9606 |
|
amytung@atai.net.cn |
aprior@equityny.com |
|
|
|
|
|
Katherine Yao, Senior Associate |
|
|
+86
10 6587 6435 |
|
|
kyao@equityny.com |
|
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