ATA Rallies After Announcing Terms For Acquisition Of Chinese Art Education Company


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ATA Inc. (NASDAQ:ATAI) shares were trading higher Friday after the company announced the terms of its agreement to acquire a China-based provider of overseas art education.

ATA said it has entered into a non-binding framework agreement with Beijing Huanqiuyimeng Education Consultation Corp., also known as ACG.

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ATA said it will issue 9.36 million shares to Arts Consulting Limited, ACG's sole shareholder, as consideration for 100% of the company. The acquisition is expected to close before the end of August, according to ATA. 

The Chinese education company previously announced April 9 that it had a preliminary agreement to acquire ACG. 

ACG is a provider of educational services for students in China interested in applying for overseas art study. ATA is a company focused on providing students with educational experiences and services in China and abroad.

ATA shares were trading higher by 13.47% at $2.95 at the time of publication Friday. 

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27% profit every 20 days?

This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.


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