Link Motion Inc. (NYSE:LKM) announced that it has entered into subscription agreement of 70,175,439 class B common shares at a price of $0.285 per share for gross proceeds of $20,000,000 on July 19, 2018. The transaction will include participation from new investor China AI Capital Limited. The investor will pay investment amount in 2 tranches of $10,000,000 each, first tranche is to be paid on signing of subscription agreement and rest $10,000,000 subject to certain customary closing conditions, on or before September 19, 2018. On the same date, the company has signed subscription agreement and received $10,000,000 in its first tranche. Pursuant to the transaction, Rui Chi and Bruson Li joined the company's board of directors.