Slinger Bag (CNXA) has issued an update.
Connexa Sports Technologies Inc. has entered into agreements to acquire a 70% stake in Hong Kong’s Yuanyu Enterprise Management Co. for $56 million, a move that will shift majority control to YYEM’s shareholders. The deal includes both cash payments and stock issuance, with the potential impact of altering the company’s board composition and a planned reverse stock split. Additionally, Connexa Sports is divesting its Slinger Bag Americas Inc. subsidiary to a new entity as part of the restructuring. This strategic acquisition targets YYEM’s innovative AI matchmaker application and its growing presence in the love and marriage sector, promising to steer Connexa Sports into new market territories.
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