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Happiness Development to acquire healthcare product distributor at $12M equity valuation

  • Happiness Development Group (NASDAQ:HAPP) has signed an equity transfer agreement to acquire Chinese healthcare product distributor- Fuzhou Hekangyuan Trading- at $12M valuation.
  • Under the agreement, Happiness will issue 10M Class A shares to Hekangyuan shareholders in addition to a cash payment of $8M.

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