PLK APAC Pte. Ltd. entered into Share Purchase Agreement to acquire PLKC International Limited from TH International Limited (NasdaqCM:THCH) for an enterprise value of $15 million on June 28, 2024. As part of the agreement, PLK APAC will acquire 100% stake in PLKC International Limited. The transaction was for a purchase price of $9.0 million, subject to certain post-closing adjustments. The purchase price reflected an enterprise value of PLKC International at $15 million on a cash free, debt free basis. The Special Committee unanimously approved the transaction.

The transaction is subject to the terms and conditions of this Agreement, the sale and purchase of the Company Shares (the ?Closing?) shall take place via the remote exchange of electronic documents and signatures and the closing shall not have been consummated on or before July 31, 2024.