ATIF signed definitive agreement with VESSEL to provide consulting services to support its future public offering
ATIF Holdings Limited (Nasdaq: ATIF) has signed a definitive consulting agreement worth $0.8 million to provide IPO advisory services to Vessel Technology Inc. ("VESSEL"), an emerging micro-lodging operator. This agreement follows thorough due diligence where ATIF assessed VESSEL's business model and market potential. ATIF aims to guide VESSEL towards a successful public offering, leveraging capital markets for growth. VESSEL, founded in 2022, specializes in stylish micro-hotel accommodations and aims to minimize environmental impact through innovative designs.
- The consulting agreement provides ATIF with a $0.8 million revenue stream.
- ATIF's advisory role may enhance VESSEL's potential for successful IPO, positively impacting future earnings.
- Strengthening its advisory portfolio with a forward-looking client in the micro-lodging sector may improve ATIF's market position.
- Dependence on the success of VESSEL's IPO for future revenue generation.
- Risks associated with VESSEL's growth plans which could impact ATIF's advisory effectiveness.
IRVINE, Calif., Dec. 28, 2022 /PRNewswire/ -- ATIF Holdings Limited (Nasdaq: ATIF, the "Company" or "ATIF") is pleased to announce that it through its wholly-owned subsidiary ATIF Business Consulting, LLC has entered into a definitive consulting agreement for a total service fee of
Through multiple in-depth communications and conversations, ATIF fully understood VESSEL's strategic planning and corporate needs, and conducted preliminary due diligence on VESSEL to gain an in-depth understanding of its business model, market size and development prospects. Both companies reached a consensus on promoting the high-quality development of VESSEL with the help of capital markets, and formally signed the consulting agreement.
Jun Liu, President, Chairman and CEO of ATIF, said: "We are pleased to announce this advisory project for VESSEL. As an innovator of micro-accommodation, VESSEL has an impressive reputation in the industry for its advanced product concept, high-quality customer service and reasonable pricing. In this fast-growing industry, I look forward to seeing VESSEL growing and realizing its ambitious expansion plan as a listed company in the future."
In connection with this advisory project, ATIF will provide all-round guidance and escort VESSEL on its path to the capital markets according to its development needs.
About VESSEL
VESSEL is an emerging micro-hotel integrated operator, founded in 2022, dedicated to providing stylish and smart micro-hotel accommodation for outdoor travel and travelers away from the city. VESSEL has developed an innovative, highly designed, self-contained cabin using prefabricated structural components to reduce disruption to the site and minimize environmental impact, combining technology with comfort. "Providing customers with unique opportunities to communicate with nature and allowing users to wake up to breathtaking views." VESSEL currently has 325,000 square feet of manufacturing and warehousing space, uses ERP and MES production management execution systems, and offers a complete set of design and development solutions.
About ATIF
ATIF Holdings Limited (NASDAQ: ATIF) is an Irvine-based financial group that provides professional and compliant IPO and M&A advisory services to companies through a combination of business, financial, counseling and consulting services. ATIF has professional and skilled business and financial services experience, and has successfully provided dozens of companies with full U.S. IPO counseling and consulting services to date. ATIF owns a comprehensive financial services network platform www.IPOEX.com, developed by a strong team of technology development and network experts, which provides SMEs with one-stop services across digital finance, business consulting, asset securitization and digitization. ATIF was awarded the "Golden Bauhinia Award", the highest award in the financial and securities industry in Hong Kong, for "Top 10 Best Listed Companies".
Forward-Looking Statements
Certain statements made in this release are "forward looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words "estimates," "projected," "expects," "anticipates," "forecasts," "plans," "intends," "believes," "seeks," "may," "will," "should," "future," "propose" and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantee of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company's control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, are: future financial and operating results, including revenues, income, expenditures, cash balances and other financial items; ability to manage growth and expansion; current and future economic and political conditions; ability to compete in an industry with low barriers to entry; ability to obtain additional financing in the future to fund capital expenditures; ability to attract new clients, complete projects for clients, and further enhance brand recognition; ability to hire and retain qualified management personnel and key employees; trends and competition in the financial consulting services industry; and other factors listed in the Company's annual report on Form 10-K and other documents filed with the Securities and Exchange Commission. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions you that actual results may differ materially from the anticipated results expressed or implied by the forward-looking statements we make. You should not rely upon forward-looking statements as predictions of future events. Forward-looking statements represent our management's beliefs and assumptions only as of the date such statements are made. These forward-looking statements are made as of the date of this news release.
View original content:https://www.prnewswire.com/news-releases/atif-signed-definitive-agreement-with-vessel-to-provide-consulting-services-to-support-its-future-public-offering-301710519.html
SOURCE ATIF Holdings Limited
FAQ
What is the key information from ATIF's consulting agreement with Vessel Technology Inc.?
How will ATIF support Vessel Technology in its IPO?
What is the potential financial impact of the consulting agreement on ATIF?
What are the risks associated with ATIF's advisory role for Vessel Technology?
