MMTec, Inc. entered into an equity acquisition agreement to acquire 85% stake in Alpha Mind Technology Limited from Alfa Crest Investment Limited and CapitoLabs Limited for $99.7 million.

MMTec, Inc. entered into an equity acquisition agreement to acquire 85% stake in Alpha Mind Technology Limited from Alfa Crest Investment Limited and CapitoLabs Limited for $99.7 million on May 16, 2023. The consideration of $99.7 million includes $7 million in the form of a convertible promissory note.