AHI executes a binding exclusive, perpetual license with Shanghai-based Changlin Network Technology Ltd.
Changlin is backed by founders with 50 years of global health insurance sector experience.
The license agreement includes an upfront payment of USD$10 million to AHI.
AHI will receive an annual license fee of USD$5m.
AHI will receive 25% revenue share of gross sales.
Changlin targeting Initial Public Offering in 2024 (IPO).
Changlin will issue an initial 50% holding to AHI. which is expected to reconstruct to 25% but not less than 20% of its common shares to AHI at the IPO.
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