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[6-K/A] ATA Creativity Global American Amended Current Report (Foreign Issuer)

Filing Impact
(Low)
Filing Sentiment
(Neutral)
Form Type
6-K/A
Rhea-AI Filing Summary

AACG’s amended Form 6-K clarifies pricing details for a previously disclosed, non-binding term sheet signed on 1 Aug 2025 with Baby BTC Strategic Capital Ltd. ("Baby Capital").

  • Share issuance: Up to 68,728,522 common shares (par US$0.01) at an implied US$0.8730 per ADS (US$0.4365 per share) for gross proceeds of ≈US$30 million.
  • Warrant: Two-year warrant exercisable at US$1.7460 per ADS (US$0.8730 per share) for up to US$70 million of additional equity.
  • Change of control: Completion of the initial issuance would give Baby Capital control of AACG and the right to appoint three directors.
  • Use of proceeds: Primarily to purchase BABY Token; remaining funds for Bitcoin purchases and collaboration with Babylon Foundation on BTC staking and DeFi applications.
  • Next steps & uncertainty: Parties aim to sign a definitive agreement within two months; transactions remain contingent on negotiation, board approval and other conditions—no assurance of closing.

The filing amends the original 6-K only to specify the ADS-level purchase and exercise prices; it contains no new financial results. Investors face capital infusion upside but also dilution, crypto-related deployment risk and deal execution risk.

Il modulo 6-K modificato di AACG chiarisce i dettagli di prezzo relativi a un term sheet non vincolante precedentemente comunicato, firmato il 1° agosto 2025 con Baby BTC Strategic Capital Ltd. ("Baby Capital").

  • Emissione di azioni: Fino a 68.728.522 azioni ordinarie (valore nominale US$0,01) a un prezzo implicito di US$0,8730 per ADS (US$0,4365 per azione) per un ricavo lordo di circa US$30 milioni.
  • Warrant: Warrant biennale esercitabile a US$1,7460 per ADS (US$0,8730 per azione) per un massimo di US$70 milioni di capitale aggiuntivo.
  • Controllo: Il completamento dell'emissione iniziale conferirebbe a Baby Capital il controllo di AACG e il diritto di nominare tre amministratori.
  • Utilizzo dei proventi: Principalmente per l'acquisto di BABY Token; i fondi residui saranno destinati all'acquisto di Bitcoin e alla collaborazione con Babylon Foundation su staking BTC e applicazioni DeFi.
  • Prossimi passi e incertezze: Le parti puntano a firmare un accordo definitivo entro due mesi; le operazioni restano soggette a negoziazione, approvazione del consiglio e altre condizioni, senza garanzia di conclusione.

La comunicazione modifica il 6-K originale solo per specificare i prezzi di acquisto ed esercizio a livello ADS; non contiene nuovi risultati finanziari. Gli investitori si trovano di fronte a un potenziale aumento di capitale ma anche a diluzione, rischi legati all'impiego in criptovalute e rischi di esecuzione dell'accordo.

El Formulario 6-K enmendado de AACG aclara los detalles de precios para un term sheet no vinculante previamente divulgado, firmado el 1 de agosto de 2025 con Baby BTC Strategic Capital Ltd. ("Baby Capital").

  • Emisión de acciones: Hasta 68.728.522 acciones ordinarias (valor nominal US$0,01) a un precio implícito de US$0,8730 por ADS (US$0,4365 por acción) para ingresos brutos de aproximadamente US$30 millones.
  • Warrant: Warrant de dos años ejercitable a US$1,7460 por ADS (US$0,8730 por acción) por hasta US$70 millones adicionales de capital.
  • Cambio de control: La finalización de la emisión inicial otorgaría a Baby Capital el control de AACG y el derecho a nombrar tres directores.
  • Uso de los fondos: Principalmente para comprar BABY Token; los fondos restantes se destinarán a compras de Bitcoin y colaboración con Babylon Foundation en staking de BTC y aplicaciones DeFi.
  • Próximos pasos e incertidumbre: Las partes buscan firmar un acuerdo definitivo en dos meses; las transacciones dependen de negociaciones, aprobación del consejo y otras condiciones, sin garantía de cierre.

El informe modifica el 6-K original solo para especificar los precios de compra y ejercicio a nivel ADS; no contiene nuevos resultados financieros. Los inversores enfrentan un potencial aumento de capital pero también dilución, riesgos relacionados con criptomonedas y riesgos de ejecución del acuerdo.

AACG의 수정된 Form 6-K는 2025년 8월 1일 Baby BTC Strategic Capital Ltd.("Baby Capital")와 체결된 비구속적 조건서의 가격 세부사항을 명확히 합니다.

  • 주식 발행: 최대 68,728,522 보통주(액면가 미화 0.01달러)로, 암시된 ADS당 미화 0.8730달러(주당 미화 0.4365달러) 가격으로 약 3,000만 달러의 총 수익을 기대합니다.
  • 워런트: 2년간 행사 가능한 워런트로, ADS당 미화 1.7460달러(주당 미화 0.8730달러) 가격에 최대 7,000만 달러 추가 자본 확보 가능.
  • 지배권 변경: 초기 발행 완료 시 Baby Capital이 AACG의 지배권을 갖고 이사 3명을 임명할 권리를 가집니다.
  • 자금 사용처: 주로 BABY 토큰 구매에 사용하며, 나머지 자금은 비트코인 구매 및 Babylon Foundation과의 BTC 스테이킹 및 DeFi 애플리케이션 협력에 사용됩니다.
  • 향후 계획 및 불확실성: 양측은 2개월 내에 최종 계약 체결을 목표로 하며, 거래는 협상, 이사회 승인 및 기타 조건에 따라 달라지므로 완료가 보장되지 않습니다.

이번 제출은 원래 6-K를 수정하여 ADS 수준의 매입 및 행사 가격만 명시했으며, 새로운 재무 결과는 포함하지 않습니다. 투자자는 자본 유입의 기회와 함께 희석, 암호화폐 관련 투자 위험, 거래 실행 위험도 감수해야 합니다.

Le formulaire 6-K modifié d'AACG précise les détails de tarification d'une lettre d'intention non contraignante précédemment divulguée, signée le 1er août 2025 avec Baby BTC Strategic Capital Ltd. ("Baby Capital").

  • Émission d'actions : Jusqu'à 68 728 522 actions ordinaires (valeur nominale 0,01 USD) à un prix implicite de 0,8730 USD par ADS (0,4365 USD par action) pour un produit brut d'environ 30 millions USD.
  • Warrant : Warrant de deux ans exerçable à 1,7460 USD par ADS (0,8730 USD par action) pour un capital supplémentaire pouvant atteindre 70 millions USD.
  • Changement de contrôle : La réalisation de l'émission initiale donnerait à Baby Capital le contrôle d'AACG et le droit de nommer trois administrateurs.
  • Utilisation des fonds : Principalement pour l'achat de BABY Token ; les fonds restants serviront à l'achat de Bitcoin et à la collaboration avec la Babylon Foundation sur le staking BTC et les applications DeFi.
  • Étapes suivantes et incertitudes : Les parties visent à signer un accord définitif dans les deux mois ; les transactions restent soumises à négociation, approbation du conseil et autres conditions – aucune garantie de conclusion.

Le dépôt modifie uniquement le 6-K original pour préciser les prix d'achat et d'exercice au niveau ADS ; il ne contient aucun nouveau résultat financier. Les investisseurs font face à un potentiel apport en capital mais aussi à une dilution, des risques liés aux crypto-monnaies et des risques d'exécution de l'accord.

Das geänderte Form 6-K von AACG klärt die Preisdaten für ein zuvor bekannt gegebenes, unverbindliches Term Sheet, das am 1. August 2025 mit Baby BTC Strategic Capital Ltd. ("Baby Capital") unterzeichnet wurde.

  • Aktienausgabe: Bis zu 68.728.522 Stammaktien (Nennwert US$0,01) zu einem impliziten Preis von US$0,8730 pro ADS (US$0,4365 pro Aktie) für Bruttoerlöse von etwa US$30 Millionen.
  • Warrant: Zweijahres-Warrant, ausübbar zu US$1,7460 pro ADS (US$0,8730 pro Aktie) für bis zu US$70 Millionen zusätzliches Eigenkapital.
  • Kontrollwechsel: Der Abschluss der Erstemission würde Baby Capital die Kontrolle über AACG verschaffen und das Recht, drei Direktoren zu ernennen.
  • Verwendung der Erlöse: Hauptsächlich zum Kauf von BABY Token; verbleibende Mittel für Bitcoin-Käufe und Zusammenarbeit mit der Babylon Foundation bei BTC-Staking und DeFi-Anwendungen.
  • Nächste Schritte & Unsicherheiten: Die Parteien streben an, innerhalb von zwei Monaten eine endgültige Vereinbarung zu unterzeichnen; die Transaktionen sind weiterhin abhängig von Verhandlungen, Vorstandsgenehmigung und weiteren Bedingungen – kein Abschluss garantiert.

Die Einreichung ändert das ursprüngliche 6-K nur, um die Kauf- und Ausübungspreise auf ADS-Ebene zu spezifizieren; es enthält keine neuen Finanzergebnisse. Investoren stehen einem Kapitalzufluss-Potenzial gegenüber, tragen aber auch Verwässerungs-, Krypto-Einsatz- und Ausführungsrisiken.

Positive
  • Up to US$30 M immediate capital injection strengthens liquidity if completed.
  • Additional US$70 M warrant provides optional future funding at higher price, potentially lessening near-term dilution.
Negative
  • Highly dilutive issuance could more than triple outstanding shares, eroding EPS and voting power.
  • Change of control grants Baby Capital majority influence and three board seats without shareholder vote.
  • Proceeds earmarked for speculative crypto assets rather than core education operations, increasing financial and regulatory risk.
  • Non-binding term sheet; no certainty the deal will close, creating execution risk.

Insights

TL;DR: Potential US$30-100 M capital but highly dilutive, crypto-linked deployment raises risk.

The term sheet could inject much-needed cash into AACG, whose market cap is ~US$20 M, but would roughly triple the share count on closing and far more if the warrant is exercised. The pricing represents a modest 3 % discount to the 10-day VWAP, limiting immediate arbitrage, yet control shifts to Baby Capital. Planned use of proceeds—buying BABY Token and Bitcoin staking—diverges from AACG’s core education franchise, introducing volatility and regulatory uncertainty. Deal is non-binding; failure to sign a definitive agreement would leave AACG without the expected funds. Overall impact skews negative: dilution and strategic drift outweigh cash infusion upside.

TL;DR: Change-of-control via private placement raises governance and minority-holder concerns.

Baby Capital would gain control and three board seats without a shareholder vote, typical in many offshore structures but contentious for U.S. investors. The warrant could lift Baby Capital’s ownership well above 50 %, entrenching influence. Absence of board-level special committee review and lack of fairness opinion (not mentioned) heighten related-party and valuation risks. Deploying proceeds into crypto assets rather than the core education business may breach fiduciary norms if returns disappoint. Minority protection mechanisms are not disclosed, signaling governance risk.

Il modulo 6-K modificato di AACG chiarisce i dettagli di prezzo relativi a un term sheet non vincolante precedentemente comunicato, firmato il 1° agosto 2025 con Baby BTC Strategic Capital Ltd. ("Baby Capital").

  • Emissione di azioni: Fino a 68.728.522 azioni ordinarie (valore nominale US$0,01) a un prezzo implicito di US$0,8730 per ADS (US$0,4365 per azione) per un ricavo lordo di circa US$30 milioni.
  • Warrant: Warrant biennale esercitabile a US$1,7460 per ADS (US$0,8730 per azione) per un massimo di US$70 milioni di capitale aggiuntivo.
  • Controllo: Il completamento dell'emissione iniziale conferirebbe a Baby Capital il controllo di AACG e il diritto di nominare tre amministratori.
  • Utilizzo dei proventi: Principalmente per l'acquisto di BABY Token; i fondi residui saranno destinati all'acquisto di Bitcoin e alla collaborazione con Babylon Foundation su staking BTC e applicazioni DeFi.
  • Prossimi passi e incertezze: Le parti puntano a firmare un accordo definitivo entro due mesi; le operazioni restano soggette a negoziazione, approvazione del consiglio e altre condizioni, senza garanzia di conclusione.

La comunicazione modifica il 6-K originale solo per specificare i prezzi di acquisto ed esercizio a livello ADS; non contiene nuovi risultati finanziari. Gli investitori si trovano di fronte a un potenziale aumento di capitale ma anche a diluzione, rischi legati all'impiego in criptovalute e rischi di esecuzione dell'accordo.

El Formulario 6-K enmendado de AACG aclara los detalles de precios para un term sheet no vinculante previamente divulgado, firmado el 1 de agosto de 2025 con Baby BTC Strategic Capital Ltd. ("Baby Capital").

  • Emisión de acciones: Hasta 68.728.522 acciones ordinarias (valor nominal US$0,01) a un precio implícito de US$0,8730 por ADS (US$0,4365 por acción) para ingresos brutos de aproximadamente US$30 millones.
  • Warrant: Warrant de dos años ejercitable a US$1,7460 por ADS (US$0,8730 por acción) por hasta US$70 millones adicionales de capital.
  • Cambio de control: La finalización de la emisión inicial otorgaría a Baby Capital el control de AACG y el derecho a nombrar tres directores.
  • Uso de los fondos: Principalmente para comprar BABY Token; los fondos restantes se destinarán a compras de Bitcoin y colaboración con Babylon Foundation en staking de BTC y aplicaciones DeFi.
  • Próximos pasos e incertidumbre: Las partes buscan firmar un acuerdo definitivo en dos meses; las transacciones dependen de negociaciones, aprobación del consejo y otras condiciones, sin garantía de cierre.

El informe modifica el 6-K original solo para especificar los precios de compra y ejercicio a nivel ADS; no contiene nuevos resultados financieros. Los inversores enfrentan un potencial aumento de capital pero también dilución, riesgos relacionados con criptomonedas y riesgos de ejecución del acuerdo.

AACG의 수정된 Form 6-K는 2025년 8월 1일 Baby BTC Strategic Capital Ltd.("Baby Capital")와 체결된 비구속적 조건서의 가격 세부사항을 명확히 합니다.

  • 주식 발행: 최대 68,728,522 보통주(액면가 미화 0.01달러)로, 암시된 ADS당 미화 0.8730달러(주당 미화 0.4365달러) 가격으로 약 3,000만 달러의 총 수익을 기대합니다.
  • 워런트: 2년간 행사 가능한 워런트로, ADS당 미화 1.7460달러(주당 미화 0.8730달러) 가격에 최대 7,000만 달러 추가 자본 확보 가능.
  • 지배권 변경: 초기 발행 완료 시 Baby Capital이 AACG의 지배권을 갖고 이사 3명을 임명할 권리를 가집니다.
  • 자금 사용처: 주로 BABY 토큰 구매에 사용하며, 나머지 자금은 비트코인 구매 및 Babylon Foundation과의 BTC 스테이킹 및 DeFi 애플리케이션 협력에 사용됩니다.
  • 향후 계획 및 불확실성: 양측은 2개월 내에 최종 계약 체결을 목표로 하며, 거래는 협상, 이사회 승인 및 기타 조건에 따라 달라지므로 완료가 보장되지 않습니다.

이번 제출은 원래 6-K를 수정하여 ADS 수준의 매입 및 행사 가격만 명시했으며, 새로운 재무 결과는 포함하지 않습니다. 투자자는 자본 유입의 기회와 함께 희석, 암호화폐 관련 투자 위험, 거래 실행 위험도 감수해야 합니다.

Le formulaire 6-K modifié d'AACG précise les détails de tarification d'une lettre d'intention non contraignante précédemment divulguée, signée le 1er août 2025 avec Baby BTC Strategic Capital Ltd. ("Baby Capital").

  • Émission d'actions : Jusqu'à 68 728 522 actions ordinaires (valeur nominale 0,01 USD) à un prix implicite de 0,8730 USD par ADS (0,4365 USD par action) pour un produit brut d'environ 30 millions USD.
  • Warrant : Warrant de deux ans exerçable à 1,7460 USD par ADS (0,8730 USD par action) pour un capital supplémentaire pouvant atteindre 70 millions USD.
  • Changement de contrôle : La réalisation de l'émission initiale donnerait à Baby Capital le contrôle d'AACG et le droit de nommer trois administrateurs.
  • Utilisation des fonds : Principalement pour l'achat de BABY Token ; les fonds restants serviront à l'achat de Bitcoin et à la collaboration avec la Babylon Foundation sur le staking BTC et les applications DeFi.
  • Étapes suivantes et incertitudes : Les parties visent à signer un accord définitif dans les deux mois ; les transactions restent soumises à négociation, approbation du conseil et autres conditions – aucune garantie de conclusion.

Le dépôt modifie uniquement le 6-K original pour préciser les prix d'achat et d'exercice au niveau ADS ; il ne contient aucun nouveau résultat financier. Les investisseurs font face à un potentiel apport en capital mais aussi à une dilution, des risques liés aux crypto-monnaies et des risques d'exécution de l'accord.

Das geänderte Form 6-K von AACG klärt die Preisdaten für ein zuvor bekannt gegebenes, unverbindliches Term Sheet, das am 1. August 2025 mit Baby BTC Strategic Capital Ltd. ("Baby Capital") unterzeichnet wurde.

  • Aktienausgabe: Bis zu 68.728.522 Stammaktien (Nennwert US$0,01) zu einem impliziten Preis von US$0,8730 pro ADS (US$0,4365 pro Aktie) für Bruttoerlöse von etwa US$30 Millionen.
  • Warrant: Zweijahres-Warrant, ausübbar zu US$1,7460 pro ADS (US$0,8730 pro Aktie) für bis zu US$70 Millionen zusätzliches Eigenkapital.
  • Kontrollwechsel: Der Abschluss der Erstemission würde Baby Capital die Kontrolle über AACG verschaffen und das Recht, drei Direktoren zu ernennen.
  • Verwendung der Erlöse: Hauptsächlich zum Kauf von BABY Token; verbleibende Mittel für Bitcoin-Käufe und Zusammenarbeit mit der Babylon Foundation bei BTC-Staking und DeFi-Anwendungen.
  • Nächste Schritte & Unsicherheiten: Die Parteien streben an, innerhalb von zwei Monaten eine endgültige Vereinbarung zu unterzeichnen; die Transaktionen sind weiterhin abhängig von Verhandlungen, Vorstandsgenehmigung und weiteren Bedingungen – kein Abschluss garantiert.

Die Einreichung ändert das ursprüngliche 6-K nur, um die Kauf- und Ausübungspreise auf ADS-Ebene zu spezifizieren; es enthält keine neuen Finanzergebnisse. Investoren stehen einem Kapitalzufluss-Potenzial gegenüber, tragen aber auch Verwässerungs-, Krypto-Einsatz- und Ausführungsrisiken.

 

 

 

United States

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON D.C. 20549

 

FORM 6-K/A

 

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE

SECURITIES EXCHANGE ACT OF 1934

 

For the month of August 2025

 

Commission File Number: 001-33910

 

ATA Creativity Global

 

c/o Rm. 507, Bldg. 3, BinhuZhuoyueCheng,

WenhuaKechuangYuan, Huayuan Blvd. 365,

Baohe, Hefei, Anhui 230051, China

(Address of principal executive offices)

 

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

 

Form 20-F   x      Form 40-F   ¨

 

 

 

 

 

 

Explanatory Note

 

On August 1, 2025, the registrant furnished with the Securities and Exchange Commission a report on Form 6-K (the “Original Report”) to announce that the registrant entered into a non-binding term sheet with Baby BTC Strategic Capital Limited, pursuant to which, the registrant will issue to Baby BTC Strategic Capital Limited (i) common shares of the registrant at certain per share purchase price, and a warrant to purchase common shares of the registrant at certain per share exercise price. However, the Original Report did not specify the equivalent purchase price and exercise price per American Depositary Share of the registrant, each of which represents two common shares of the registrant. The registrant is furnishing this amended Report on Form 6-K/A to supplement and clarify such equivalent purchase price and exercise price per American Depositary Share of the registrant.

 

This amended Report on Form 6-K/A does not reflect events occurring after the filing of the Original Report, and does not update disclosures contained in the Original Report or modify or amend the Original Report except as specifically described in this Explanatory Note.

 

This amended Report on Form 6-K/A is incorporated by reference into the Company’s Registration Statement on Form F-3 (File No. 333-278921), filed with the Securities and Exchange Commission on April 25, 2024, to be a part thereof from the date on which this amended Report is submitted, to the extent not superseded by documents or reports subsequently filed or furnished.

 

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ATA Creativity Global Entered into a Non-Binding Term Sheet with Baby BTC Strategic Capital Limited

 

ATA Creativity Global (“ACG” or the “Company”, Nasdaq: AACG), an international educational services company focused on providing quality learning experiences that cultivate and enhance students’ creativity, today announced that, on August 1 2025, it entered into a non-binding term sheet (the “Term Sheet”) with Baby BTC Strategic Capital Limited (“Baby Capital”) pursuant to which, the Company will (1) issue up to 68,728,522 common shares (the “Common Shares”), with a par value US$0.01 per share, to Baby Capital at the per share purchase price equivalent to US$0.8730 per American Depositary Share, each of which represents two Common Shares (i.e., the per share purchase price of US$0.4365 per Common Share), for an aggregate purchase price of up to US$30,000,000 (the “Share Issuance”); and (2) at the closing of the Share Issuance, issue a warrant with 2-year term, pursuant to which Baby Capital shall have the right to purchase certain number of Common Shares at the per share exercise price equivalent to US$1.7460 per American Depositary Share (i.e., US$0.8730 per Common Share), for an aggregate exercise price of up to US$70,000,000. The Company and Baby Capital agree to negotiate in good faith and enter into a definitive share purchase agreement within two months after the date of the Term Sheet. Upon the completion of the Share Issuance, Baby Capital is expected to obtain control of the Company, and it will have the right to appoint and designate three new directors to the board of directors of the Company.

 

Subject to the approval by the board of directors of the Company, the proceeds from the above transaction will be mainly used to purchase BABY Token in the market, while the remainder will be used to purchase Bitcoin and collaborate with Babylon Foundation on Bitcoin staking, which aims to deploy new Bitcoin into ecological applications like Decentralized Finance.

 

The transactions contemplated under the Term Sheet is subject to the negotiation and execution of a definitive share purchase agreement. There can be no assurance that the definitive share purchase agreement will be entered into, nor that the potential transactions contemplated hereunder will be consummated on the terms set forth in the Term Sheet, nor that the cooperation with Babylon will produce any expected outcome, or at all.

 

About ATA Creativity Global

 

ATA Creativity Global is an international educational services company focused on providing quality learning experiences that cultivate and enhance students’ creativity. ATA Creativity Global offers a wide range of education services consisting primarily of portfolio training, research-based learning services, overseas study counselling and other educational services through its training center network. For more information, please visit ACG’s website at www.atai.net.cn.

 

Cautionary Note Regarding Forward-looking Statements

 

This report contains statements that may constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terms such as “will,” “should,” “could,” “expect,” “anticipate,” “aim,” “future,” “intend,” “plan,” “believe,” “estimate,” “forecast,” “outlook,” “likely to” and similar statements. ACG may also make written or oral forward-looking statements in its periodic reports to the SEC, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about ACG’s beliefs, plans and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, further information regarding which is included in the Company’s filings with the SEC. For example in this report, we are using forward-looking statements when we are discussing the entry into the Term Sheet, the potential sale of Common Shares and our intention to cooperate with Babylon and expand the Company’s business to web 3.0 field and Bitcoin ecosystem. These forward-looking statements are subject to a number of risks and uncertainties, which could cause the actual results to differ materially from those indicated in these forward-looking statements. There can be no assurance that the definitive share purchase agreement will be entered into, nor that the potential transactions contemplated hereunder will be consummated on the terms set forth in the Term Sheet, nor that the cooperation with Babylon will produce any expected outcome, or at all. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this report. All information provided in this report is as of the date of this report, and ACG undertakes no duty to update such information to reflect events or circumstances that arise after the date hereof, except as required under applicable law.

 

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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, thereunto duly authorized.

 

  ATA Creativity Global
     
  By: /s/ Ruobai Sima
  Name: Ruobai Sima
  Title: Chief Financial Officer

 

Date: August 4, 2025

 

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FAQ

What is the share price AACG will receive under the Baby Capital deal?

AACG will issue shares at an equivalent US$0.8730 per ADS (two common shares).

How much cash could AACG raise from the transaction?

The initial share issuance totals up to US$30 million; the two-year warrant could bring an additional US$70 million on exercise.

Will Baby Capital control AACG after the deal?

Yes. Upon closing of the share issuance, Baby Capital is expected to obtain control and appoint three directors to AACG’s board.

How will AACG use the proceeds?

Proceeds are slated mainly to purchase BABY Token; any remainder will buy Bitcoin and support BTC staking projects with Babylon Foundation.

Is the agreement definitive?

No. The term sheet is non-binding; parties aim to sign a definitive agreement within two months, but closing is uncertain.

What is the warrant exercise price?

The warrant can be exercised at US$1.7460 per ADS (US$0.8730 per common share) within two years of issuance.
Ata Creativity Global

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