Origin Agritech finalizes agreement to sell former office space

Origin Agritech announced the completion of an agreement with Beijing Changping Technology Innodevelop Group, or BC-TID. This strategic agreement converts approximately $19M in debt into equity in a joint venture. Importantly, this transaction neither involves any aspects of our seed business and technology nor results in the issuance of any new shares of Origin Agritech. The primary focus of this agreement is the sale of Origin’s former office space in Beijing to the joint venture. No biotechnology IP or research is included in this transaction. All intellectual property and research assets, including seed business, biotech traits, nutrition enhanced corn, and supply chain business-related technology and revenues, remain with Origin.