Agape ATP Acquires Indonesian AgTech Firm

TL;DR

Agape ATP buys Indonesian AgTech company PT. KEBUN AGRO TEKNOLOGI to boost its operations.

AI Summary

Agape ATP Corporation announced on September 19, 2024, that it entered into a Share Purchase Agreement on September 17, 2024, to acquire 100% of the issued and outstanding shares of PT. KEBUN AGRO TEKNOLOGI, a company based in Indonesia. This acquisition is expected to expand Agape ATP's business operations.

Why It Matters

This acquisition signifies Agape ATP's strategic move to expand its business into the Indonesian agricultural technology sector, potentially opening new revenue streams and market opportunities.

Risk Assessment

Risk Level: medium — Acquisitions carry inherent risks, including integration challenges, potential overpayment, and unforeseen liabilities of the acquired company.

Key Players & Entities

• Agape ATP Corporation (company) — Registrant
• PT. KEBUN AGRO TEKNOLOGI (company) — Acquired company
• September 17, 2024 (date) — Date of Share Purchase Agreement
• September 19, 2024 (date) — Date of Report

FAQ

Key Financial Figures

• $0.0001 — ch registered Common Stock, par value $0.0001 per share ATPC NASDAQ Capital Mark
• $1.00 — e of our ordinary shares had been below $1.00 per share for the previous 30 consecuti

Filing Documents

• form8-k.htm (8-K) — 38KB
• ex99-1.htm (EX-99.1) — 14KB
• ex99-1_001.jpg (GRAPHIC) — 5KB
• 0001493152-24-037083.txt ( ) — 236KB
• atpc-20240919.xsd (EX-101.SCH) — 3KB
• atpc-20240919_lab.xml (EX-101.LAB) — 33KB
• atpc-20240919_pre.xml (EX-101.PRE) — 24KB
• form8-k_htm.xml (XML) — 4KB

From the Filing

UNITED SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (Date of earliest event reported): September 19, 2024 (September 17, 2024) AGAPE ATP CORPORATION (Exact name of registrant as specified in its charter) Nevada 001-41835 36-4838886 (State or other jurisdiction (Commission (IRS Employer of incorporation) File Number) Identification No.) 1705 – 1708, Level 17, Tower 2, Faber Towers , Jalan Desa Bahagia , Taman Desa , Kuala Lumpur , Malaysia 58100 (Address of principal executive offices) (Zip Code) +(60) 192230099 (Registrant's telephone number, including area code) N/A (Former name or former address, if changed since last report.) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, par value $0.0001 per share ATPC NASDAQ Capital Market Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (240.12b-2 of this chapter). Emerging Growth Company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ITEM 8.01. Other Events. As previously reported, on January 22, 2024, Agape ATP Corporation (the "Company") received a written notification from the Nasdaq Listing Qualifications Department of the Nasdaq Stock Market ("Nasdaq") that the closing bid price of our ordinary shares had been below $1.00 per share for the previous 30 consecutive business days, and that we were not in compliance with the minimum bid price requirement for continued listing on Nasdaq under Nasdaq Listing Rule 5550(a)(2) (the "Rule"). The Company was provided 180 calendar days, until July 16, 2024, to regain compliance. On September 17, 2024, the Company received written notice from the Listing Qualifications Staff of Nasdaq notifying the Company that, for more than the last ten (10) consecutive business days, from August 30, 2024 through September 16, 2024, the closing bid price of the Company's ordinary shares was $1.00 per share or greater. Accordingly, the written notice stated that the Company has regained compliance with the minimum bid price listing requirement set forth under the Rule. On September 19, 2024, the Company issued a press release announcing that it regained compliance with Nasdaq listing requirements. The full text of the press release is attached to this current report on Form 8-K as Exhibit 99.1 EXHIBIT INDEX Exhibit No. Description 99.1 Press Release, dated September 19, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 2 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. AGAPE ATP CORPORATION Date: September 19, 2024 By: /s/ How Kok Choong Name: How Kok Choong Title: Chief Executive Officer, President, Director, Secretary and Treasurer (Principal Executive Officer) 3

View Full Filing

View this 8-K filing on SEC EDGAR