ZhongAn International entered into the share purchase agreement of 96,508,924 new shares at an issue price of $0.66 per share for the gross proceeds of $63,695,889.84 on May 31, 2023. The transaction will include participation from returning investor,Sinolink Worldwide Holdings Limited which holds 44.75% stake in the company and post completion it will hold 46.58% stake. The transaction will take place in two tranches comprising of first tranche for an aggregate of 67,556,247 new ZATI ordinary shares for approximately $44.6 million and the second tranche for an aggregate of 28,952,677 new ZATI ordinary shares for approximately $19.1 million.

The transaction is expected to close by the end of July 2023 for first tranche and the end of September 2023, respectively for the second and final tranche. The transaction has been approved by the board of directors of the company.