Kaixin to acquire 55% stake in XINGCAN

* Kaixin (NASDAQ:KXIN [https://seekingalpha.com/symbol/KXIN]) announced on Wednesday the signing of a term sheet with XINGCAN, a Chinese AI education innovation company.
* Kaixin plans to issue new shares to acquire a 55% stake in XINGCAN.
* "The transaction marks the in-depth collaboration between the two parties, focusing on the global development of the "AI + Education + Live Streaming" ecosystem and accelerating the intelligent upgrade of the education industry," said Kaixin in its press statement.
* Through the cooperation with Kaixin, XINGCAN will utilize the trio of "technology + content + ecology" to conduct in-depth iterations across four core dimensions: educational services, IP incubation, live broadcast operations, and AI empowerment.
* KXIN +9.52% premarket to $0.92.
* Source: Press Release [https://seekingalpha.com/pr/20227845-kaixin-holdings-announces-acquisition-of-xingcan-launching-ai-education-business]

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