noco-noco Inc (NCNC) has released an update.
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In a strategic move, noco-noco Inc. has entered into a share subscription agreement with Future Science Research Inc., where the latter will acquire over 6 million ordinary shares at a discounted rate. This agreement, effective June 26, 2024, involves a complex exchange of shares and monetary considerations, underpinned by a series of warranties and representations from both parties. The shares are initially restricted, with provisions for future trading outlined in a separate agreement related to the SEC’s F-1 resale registration.
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