Prestige Wealth Inc. Announces Acquisition of Tokyo Bay

Core Viewpoint - Prestige Wealth Inc. has entered into a definitive acquisition agreement to purchase Tokyo Bay Management Inc. for a total price of US$1,500,000, enhancing its strategy in the Asian wealth management industry [1]. Group 1: Acquisition Details - The acquisition involves the purchase of all shares of Tokyo Bay, with the total purchase price being US$1,500,000 [1]. - The payment will be made in the form of 2,500,000 newly issued Class B ordinary shares at a price of US$0.60 per share, along with warrants to purchase 1,875,000 Class A ordinary shares at an exercise price of US$0.72 [1]. - Key employees of Tokyo Bay will be retained post-acquisition, and there will be non-competition and non-solicitation covenants for three years from the seller parties [1]. Group 2: Company Background - Prestige Wealth Inc. is a wealth management and asset management services provider based in Hong Kong, focusing on high-net-worth and ultra-high-net-worth clients [2]. - The company offers customized wealth management products and tailored value-added services, along with discretionary account management and asset management-related advisory services [2]. Group 3: Tokyo Bay Overview - Tokyo Bay is based in Tokyo, Japan, and has built a strong client base and local market knowledge, providing wealth management and lifestyle management services to high-net-worth clients [3].