[FWP] Citigroup Inc. Free Writing Prospectus
Addentax Group Corp. (NASDAQ: ATXG) filed a Current Report on Form 8-K dated July 2, 2025. The sole material event disclosed is that the Company has entered into a non-binding term sheet with an unnamed Bitcoin holder to acquire up to 12,000 Bitcoins. The filing characterises the agreement as non-binding, meaning neither price, funding structure nor closing timetable are finalized. A corresponding press release is attached as Exhibit 99.1; no additional financial statements or pro-forma information accompany the report.
If consummated, the contemplated purchase would add a sizeable digital-asset position to Addentax’s balance sheet and represents a potential strategic pivot toward cryptocurrency holdings. However, the Company has not provided details on how it intends to finance the acquisition, whether the transaction will occur in one or multiple tranches, or any hedging strategy to mitigate Bitcoin price volatility. The 8-K contains no forward-looking financial guidance or changes to previously reported earnings.
Because the arrangement remains preliminary, investors should monitor future filings for binding agreements, closing conditions, and any accounting or regulatory disclosures that may stem from holding a large amount of Bitcoin.
Addentax Group Corp. (NASDAQ: ATXG) ha presentato un rapporto corrente sul modulo 8-K datato 2 luglio 2025. L'unico evento rilevante comunicato è che la Società ha stipulato una lettera di intenti non vincolante con un detentore anonimo di Bitcoin per acquisire fino a 12.000 Bitcoin. Il deposito definisce l'accordo come non vincolante, il che significa che né il prezzo, né la struttura del finanziamento, né il calendario di chiusura sono stati definiti. Un comunicato stampa corrispondente è allegato come Exhibits 99.1; non sono presenti ulteriori bilanci o informazioni pro-forma a corredo del rapporto.
Se completato, l'acquisto previsto aggiungerebbe una significativa posizione in asset digitali al bilancio di Addentax e rappresenterebbe una possibile svolta strategica verso investimenti in criptovalute. Tuttavia, la Società non ha fornito dettagli su come intende finanziare l'acquisizione, se la transazione avverrà in un'unica tranche o in più tranche, né su eventuali strategie di copertura per mitigare la volatilità del prezzo del Bitcoin. Il modulo 8-K non contiene previsioni finanziarie né modifiche agli utili precedentemente comunicati.
Poiché l'accordo è ancora preliminare, gli investitori dovrebbero monitorare i futuri depositi per eventuali accordi vincolanti, condizioni di chiusura e qualsiasi comunicazione contabile o regolamentare derivante dal possesso di una grande quantità di Bitcoin.
Addentax Group Corp. (NASDAQ: ATXG) presentó un informe actual en el Formulario 8-K con fecha 2 de julio de 2025. El único evento relevante divulgado es que la Compañía ha firmado una hoja de términos no vinculante con un poseedor anónimo de Bitcoin para adquirir hasta 12,000 Bitcoins. El informe califica el acuerdo como no vinculante, lo que significa que ni el precio, ni la estructura de financiamiento ni el calendario de cierre están finalizados. Se adjunta un comunicado de prensa correspondiente como Anexo 99.1; no se incluyen estados financieros adicionales ni información pro forma junto con el informe.
Si se concreta, la compra prevista añadiría una posición considerable en activos digitales al balance de Addentax y representa un posible giro estratégico hacia la tenencia de criptomonedas. Sin embargo, la Compañía no ha proporcionado detalles sobre cómo planea financiar la adquisición, si la transacción se realizará en una o varias partes, ni sobre alguna estrategia de cobertura para mitigar la volatilidad del precio de Bitcoin. El 8-K no contiene previsiones financieras a futuro ni cambios en las ganancias previamente reportadas.
Dado que el acuerdo sigue siendo preliminar, los inversores deben estar atentos a futuros informes para conocer acuerdos vinculantes, condiciones de cierre y cualquier revelación contable o regulatoria que pueda derivarse de poseer una gran cantidad de Bitcoin.
Addentax Group Corp. (NASDAQ: ATXG)는 2025년 7월 2일자 Form 8-K 현재 보고서를 제출했습니다. 공개된 유일한 주요 사건은 회사가 익명 비트코인 보유자와 최대 12,000 비트코인을 인수하기 위한 구속력 없는 조건서에 합의했다는 것입니다. 제출 문서에서는 이 합의를 구속력이 없는 것으로 규정하여 가격, 자금 조달 구조, 마감 일정이 확정되지 않았음을 명시하고 있습니다. 관련 보도자료는 Exhibit 99.1로 첨부되어 있으며, 추가 재무제표나 프로포르마 정보는 포함되어 있지 않습니다.
거래가 성사될 경우, 이번 매입은 Addentax의 대차대조표에 상당한 디지털 자산 포지션을 추가하며 암호화폐 보유로의 전략적 전환 가능성을 나타냅니다. 그러나 회사는 어떻게 인수를 자금 조달할지, 거래가 일괄 또는 여러 차례에 걸쳐 이루어질지, 비트코인 가격 변동성을 완화하기 위한 헤징 전략에 대한 세부 정보를 제공하지 않았습니다. 8-K 보고서에는 향후 재무 전망이나 이전에 보고된 수익 변경 사항도 포함되어 있지 않습니다.
이 거래가 아직 초기 단계이므로 투자자들은 구속력 있는 계약, 마감 조건, 대량 비트코인 보유에서 파생될 수 있는 회계 또는 규제 공시 사항에 대해 향후 제출 서류를 주시해야 합니다.
Addentax Group Corp. (NASDAQ : ATXG) a déposé un rapport actuel sur le formulaire 8-K daté du 2 juillet 2025. Le seul événement important divulgué est que la société a conclu une lettre d'intention non contraignante avec un détenteur de Bitcoin non identifié pour acquérir jusqu'à 12 000 Bitcoins. Le dépôt qualifie l'accord de non contraignant, ce qui signifie que ni le prix, ni la structure de financement, ni le calendrier de clôture ne sont finalisés. Un communiqué de presse correspondant est joint en tant qu'Exhibit 99.1 ; aucun état financier supplémentaire ni information pro forma n'accompagne le rapport.
Si l'opération est réalisée, l'achat envisagé ajouterait une position importante en actifs numériques au bilan d'Addentax et représente un possible virage stratégique vers la détention de cryptomonnaies. Cependant, la société n'a pas fourni de détails sur comment elle compte financer l'acquisition, si la transaction se fera en une ou plusieurs tranches, ni sur une éventuelle stratégie de couverture pour atténuer la volatilité du prix du Bitcoin. Le formulaire 8-K ne contient aucune prévision financière prospective ni modification des résultats précédemment rapportés.
Étant donné que l'accord reste préliminaire, les investisseurs doivent surveiller les futurs dépôts pour des accords contraignants, les conditions de clôture et toute divulgation comptable ou réglementaire pouvant découler de la détention d'une grande quantité de Bitcoin.
Addentax Group Corp. (NASDAQ: ATXG) hat am 2. Juli 2025 einen aktuellen Bericht auf Formular 8-K eingereicht. Das einzige wesentliche Ereignis, das offengelegt wurde, ist, dass das Unternehmen eine unverbindliche Absichtserklärung mit einem nicht genannten Bitcoin-Inhaber abgeschlossen hat, um bis zu 12.000 Bitcoins zu erwerben. Die Einreichung beschreibt die Vereinbarung als unverbindlich, was bedeutet, dass weder Preis, Finanzierungsstruktur noch Zeitplan für den Abschluss festgelegt sind. Eine entsprechende Pressemitteilung ist als Anlage 99.1 beigefügt; weitere Finanzberichte oder Pro-forma-Informationen sind dem Bericht nicht beigefügt.
Falls umgesetzt, würde der geplante Kauf eine beträchtliche Position an digitalen Vermögenswerten in der Bilanz von Addentax hinzufügen und stellt eine potenzielle strategische Neuausrichtung hin zu Kryptowährungsbeständen dar. Das Unternehmen hat jedoch keine Details darüber angegeben, wie die Akquisition finanziert werden soll, ob die Transaktion in einer oder mehreren Tranchen erfolgt oder ob eine Absicherungsstrategie zur Minderung der Bitcoin-Preisschwankungen geplant ist. Das 8-K enthält keine zukunftsgerichteten Finanzprognosen oder Änderungen zuvor gemeldeter Gewinne.
Da die Vereinbarung noch vorläufig ist, sollten Investoren zukünftige Einreichungen beobachten, um verbindliche Vereinbarungen, Abschlussbedingungen sowie etwaige buchhalterische oder regulatorische Offenlegungen im Zusammenhang mit dem Halten einer großen Menge Bitcoin zu verfolgen.
- Potential asset diversification: Acquiring up to 12,000 Bitcoins would introduce a new asset class to the balance sheet.
- Strategic visibility: The announcement could broaden the Company’s investor base by appealing to cryptocurrency-focused investors.
- Non-binding nature: The term sheet imposes no obligation on either party, so the transaction may never occur.
- Undisclosed financing: The filing provides no details on funding sources or leverage, creating uncertainty about balance-sheet impact.
- Volatility and regulatory risk: A large Bitcoin position could heighten earnings volatility and expose the Company to changing crypto regulations.
Insights
TL;DR: Potentially transformational Bitcoin buy; impact unclear until terms bind.
The proposed acquisition of up to 12,000 BTC could materially expand Addentax’s asset base and diversify treasury holdings. While the Company did not disclose pricing, even conservative estimates suggest the purchase could be a multiple of current market capitalisation, implying a step-change in balance-sheet composition. Such a move may attract new investors interested in crypto-exposed equities and could increase trading liquidity. Yet, because the term sheet is expressly non-binding, there is no certainty of execution or scope. Investors should treat the announcement as an early signal rather than a committed capital deployment.
TL;DR: High volatility and execution risk offset headline appeal.
A non-binding term sheet offers limited legal assurance; counterparty risk remains undetermined. Should the deal close, Addentax would face pronounced exposure to Bitcoin price swings, custody security issues, and evolving global crypto regulations. The lack of disclosed financing raises leverage and liquidity concerns. From a governance standpoint, abrupt strategy shifts toward speculative assets may raise red flags for conservative shareholders. Until binding documentation and risk-mitigation policies are provided, the announcement is best viewed as neutral to slightly negative on a risk-adjusted basis.
Addentax Group Corp. (NASDAQ: ATXG) ha presentato un rapporto corrente sul modulo 8-K datato 2 luglio 2025. L'unico evento rilevante comunicato è che la Società ha stipulato una lettera di intenti non vincolante con un detentore anonimo di Bitcoin per acquisire fino a 12.000 Bitcoin. Il deposito definisce l'accordo come non vincolante, il che significa che né il prezzo, né la struttura del finanziamento, né il calendario di chiusura sono stati definiti. Un comunicato stampa corrispondente è allegato come Exhibits 99.1; non sono presenti ulteriori bilanci o informazioni pro-forma a corredo del rapporto.
Se completato, l'acquisto previsto aggiungerebbe una significativa posizione in asset digitali al bilancio di Addentax e rappresenterebbe una possibile svolta strategica verso investimenti in criptovalute. Tuttavia, la Società non ha fornito dettagli su come intende finanziare l'acquisizione, se la transazione avverrà in un'unica tranche o in più tranche, né su eventuali strategie di copertura per mitigare la volatilità del prezzo del Bitcoin. Il modulo 8-K non contiene previsioni finanziarie né modifiche agli utili precedentemente comunicati.
Poiché l'accordo è ancora preliminare, gli investitori dovrebbero monitorare i futuri depositi per eventuali accordi vincolanti, condizioni di chiusura e qualsiasi comunicazione contabile o regolamentare derivante dal possesso di una grande quantità di Bitcoin.
Addentax Group Corp. (NASDAQ: ATXG) presentó un informe actual en el Formulario 8-K con fecha 2 de julio de 2025. El único evento relevante divulgado es que la Compañía ha firmado una hoja de términos no vinculante con un poseedor anónimo de Bitcoin para adquirir hasta 12,000 Bitcoins. El informe califica el acuerdo como no vinculante, lo que significa que ni el precio, ni la estructura de financiamiento ni el calendario de cierre están finalizados. Se adjunta un comunicado de prensa correspondiente como Anexo 99.1; no se incluyen estados financieros adicionales ni información pro forma junto con el informe.
Si se concreta, la compra prevista añadiría una posición considerable en activos digitales al balance de Addentax y representa un posible giro estratégico hacia la tenencia de criptomonedas. Sin embargo, la Compañía no ha proporcionado detalles sobre cómo planea financiar la adquisición, si la transacción se realizará en una o varias partes, ni sobre alguna estrategia de cobertura para mitigar la volatilidad del precio de Bitcoin. El 8-K no contiene previsiones financieras a futuro ni cambios en las ganancias previamente reportadas.
Dado que el acuerdo sigue siendo preliminar, los inversores deben estar atentos a futuros informes para conocer acuerdos vinculantes, condiciones de cierre y cualquier revelación contable o regulatoria que pueda derivarse de poseer una gran cantidad de Bitcoin.
Addentax Group Corp. (NASDAQ: ATXG)는 2025년 7월 2일자 Form 8-K 현재 보고서를 제출했습니다. 공개된 유일한 주요 사건은 회사가 익명 비트코인 보유자와 최대 12,000 비트코인을 인수하기 위한 구속력 없는 조건서에 합의했다는 것입니다. 제출 문서에서는 이 합의를 구속력이 없는 것으로 규정하여 가격, 자금 조달 구조, 마감 일정이 확정되지 않았음을 명시하고 있습니다. 관련 보도자료는 Exhibit 99.1로 첨부되어 있으며, 추가 재무제표나 프로포르마 정보는 포함되어 있지 않습니다.
거래가 성사될 경우, 이번 매입은 Addentax의 대차대조표에 상당한 디지털 자산 포지션을 추가하며 암호화폐 보유로의 전략적 전환 가능성을 나타냅니다. 그러나 회사는 어떻게 인수를 자금 조달할지, 거래가 일괄 또는 여러 차례에 걸쳐 이루어질지, 비트코인 가격 변동성을 완화하기 위한 헤징 전략에 대한 세부 정보를 제공하지 않았습니다. 8-K 보고서에는 향후 재무 전망이나 이전에 보고된 수익 변경 사항도 포함되어 있지 않습니다.
이 거래가 아직 초기 단계이므로 투자자들은 구속력 있는 계약, 마감 조건, 대량 비트코인 보유에서 파생될 수 있는 회계 또는 규제 공시 사항에 대해 향후 제출 서류를 주시해야 합니다.
Addentax Group Corp. (NASDAQ : ATXG) a déposé un rapport actuel sur le formulaire 8-K daté du 2 juillet 2025. Le seul événement important divulgué est que la société a conclu une lettre d'intention non contraignante avec un détenteur de Bitcoin non identifié pour acquérir jusqu'à 12 000 Bitcoins. Le dépôt qualifie l'accord de non contraignant, ce qui signifie que ni le prix, ni la structure de financement, ni le calendrier de clôture ne sont finalisés. Un communiqué de presse correspondant est joint en tant qu'Exhibit 99.1 ; aucun état financier supplémentaire ni information pro forma n'accompagne le rapport.
Si l'opération est réalisée, l'achat envisagé ajouterait une position importante en actifs numériques au bilan d'Addentax et représente un possible virage stratégique vers la détention de cryptomonnaies. Cependant, la société n'a pas fourni de détails sur comment elle compte financer l'acquisition, si la transaction se fera en une ou plusieurs tranches, ni sur une éventuelle stratégie de couverture pour atténuer la volatilité du prix du Bitcoin. Le formulaire 8-K ne contient aucune prévision financière prospective ni modification des résultats précédemment rapportés.
Étant donné que l'accord reste préliminaire, les investisseurs doivent surveiller les futurs dépôts pour des accords contraignants, les conditions de clôture et toute divulgation comptable ou réglementaire pouvant découler de la détention d'une grande quantité de Bitcoin.
Addentax Group Corp. (NASDAQ: ATXG) hat am 2. Juli 2025 einen aktuellen Bericht auf Formular 8-K eingereicht. Das einzige wesentliche Ereignis, das offengelegt wurde, ist, dass das Unternehmen eine unverbindliche Absichtserklärung mit einem nicht genannten Bitcoin-Inhaber abgeschlossen hat, um bis zu 12.000 Bitcoins zu erwerben. Die Einreichung beschreibt die Vereinbarung als unverbindlich, was bedeutet, dass weder Preis, Finanzierungsstruktur noch Zeitplan für den Abschluss festgelegt sind. Eine entsprechende Pressemitteilung ist als Anlage 99.1 beigefügt; weitere Finanzberichte oder Pro-forma-Informationen sind dem Bericht nicht beigefügt.
Falls umgesetzt, würde der geplante Kauf eine beträchtliche Position an digitalen Vermögenswerten in der Bilanz von Addentax hinzufügen und stellt eine potenzielle strategische Neuausrichtung hin zu Kryptowährungsbeständen dar. Das Unternehmen hat jedoch keine Details darüber angegeben, wie die Akquisition finanziert werden soll, ob die Transaktion in einer oder mehreren Tranchen erfolgt oder ob eine Absicherungsstrategie zur Minderung der Bitcoin-Preisschwankungen geplant ist. Das 8-K enthält keine zukunftsgerichteten Finanzprognosen oder Änderungen zuvor gemeldeter Gewinne.
Da die Vereinbarung noch vorläufig ist, sollten Investoren zukünftige Einreichungen beobachten, um verbindliche Vereinbarungen, Abschlussbedingungen sowie etwaige buchhalterische oder regulatorische Offenlegungen im Zusammenhang mit dem Halten einer großen Menge Bitcoin zu verfolgen.
Citigroup Global Markets Holdings Inc.
Guaranteed by Citigroup Inc.
Hypothetical Payment at Maturity per Security**
|
n The Underlying |
n The Securities |
|
|
Hypothetical Underlying Return on Valuation Date |
Hypothetical Security Return |
Hypothetical Payment at Maturity |
|
|
50.00% |
82.50% |
$1,825.00 |
|
C |
25.00% |
41.25% |
$1,412.50 |
|
|
5.00% |
8.25% |
$1,082.50 |
|
|
0.00% |
0.00% |
$1,000.00 |
|
B |
-10.00% |
0.00% |
$1,000.00 |
|
|
-20.00% |
0.00% |
$1,000.00 |
|
|
-20.01% |
-0.01% |
$999.90 |
|
|
-25.00% |
-5.00% |
$950.00 |
|
A |
-50.00% |
-30.00% |
$700.00 |
|
|
-100.00% |
-80.00% |
$200.00 |
5 Year Buffer Securities Linked to SPXFP
Preliminary Terms
This summary of terms is not complete and should be read with the preliminary pricing supplement below
|
Issuer: |
Citigroup Global Markets Holdings Inc. |
|
Guarantor: |
Citigroup Inc. |
|
Underlying: |
The S&P 500 Futures Excess Return Index (ticker: “SPXFP”) |
|
Pricing date: |
July 31, 2025 |
|
Valuation date: |
July 31, 2030 |
|
Maturity date: |
August 5, 2030 |
|
Return amount: |
$1,000 × the underlying return × the upside participation rate |
|
Upside participation rate: |
At least 165.00%* |
|
Final buffer value: |
80.00% of the initial underlying value |
|
Buffer percentage: |
20.00% |
|
CUSIP / ISIN: |
17333LDM4 / US17333LDM46 |
|
Initial underlying value: |
The closing value on the pricing date |
|
Final underlying value: |
The closing value on the valuation date |
|
Underlying return: |
(Final underlying value - initial underlying value) / initial underlying value |
|
Payment at maturity: |
•If the final underlying value is greater than the initial underlying value: $1,000 + the return amount •If the final underlying value is less than or equal to the initial underlying value but greater than or equal to the final buffer value: $1,000 •If the final underlying value is less than the final buffer value: $1,000 + [$1,000 × (the underlying return + the buffer percentage)] If the final underlying value is less than the final buffer value, which means that the underlying has depreciated from the initial underlying value by more than the buffer percentage, you will lose 1% of the stated principal amount of your securities at maturity for every 1% by which that depreciation exceeds the buffer percentage. All payments on the securities are subject to the credit risk of Citigroup Global Markets Holdings Inc. and Citigroup Inc. |
|
Stated principal amount: |
$1,000 per security |
|
Preliminary pricing supplement: |
Preliminary Pricing Supplement dated July 2, 2025 |
* The actual upside participation rate will be determined on the pricing date.
** The hypotheticals assume that the upside participation rate will be set at the lowest value indicated in this offering summary.
Citigroup Global Markets Holdings Inc.
Guaranteed by Citigroup Inc.
|
Additional Information |
|
Citigroup Global Markets Holdings Inc. and Citigroup Inc. have filed registration statements (including the accompanying preliminary pricing supplement, product supplement, underlying supplement, prospectus supplement and prospectus) with the Securities and Exchange Commission (“SEC”) for the offering to which this communication relates. Before you invest, you should read the accompanying preliminary pricing supplement, product supplement, underlying supplement, prospectus supplement and prospectus in those registration statements (File Nos. 333-270327 and 333-270327-01) and the other documents Citigroup Global Markets Holdings Inc. and Citigroup Inc. have filed with the SEC for more complete information about Citigroup Global Markets Holdings Inc., Citigroup Inc. and this offering. You may obtain these documents without cost by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, you can request these documents by calling toll-free 1-800-831-9146.
Filed pursuant to Rule 433 |
|
This offering summary does not contain all of the material information an investor should consider before investing in the securities. This offering summary is not for distribution in isolation and must be read together with the accompanying preliminary pricing supplement and the other documents referred to therein, which can be accessed via the link on the first page. |
|
Selected Risk Considerations |
|
•You may lose a significant portion of your investment. Your payment at maturity will depend on the final underlying value. If the final underlying value is less than the final buffer value, which means that the underlying has depreciated from the initial underlying value by more than the buffer percentage, you will lose 1% of the stated principal amount of your securities for every 1% by which that depreciation exceeds the buffer percentage. •The securities do not pay interest. •You will not receive dividends or have any other rights with respect to the underlying. •Your payment at maturity depends on the closing value of the underlying on a single day. •The securities are subject to the credit risk of Citigroup Global Markets Holdings Inc. and Citigroup Inc. If Citigroup Global Markets Holdings Inc. defaults on its obligations under the securities and Citigroup Inc. defaults on its guarantee obligations, you may not receive anything owed to you under the securities. •The securities will not be listed on any securities exchange and you may not be able to sell them prior to maturity. •The estimated value of the securities on the pricing date will be less than the issue price. For more information about the estimated value of the securities, see the accompanying preliminary pricing supplement. •The value of the securities prior to maturity will fluctuate based on many unpredictable factors. •The underlying is expected to underperform the total return performance of the S&P 500® Index because the performance of the underlying is expected to be reduced by an implicit financing cost, and any increase in this cost will adversely affect the performance of the securities. •The issuer and its affiliates may have conflicts of interest with you. •The U.S. federal tax consequences of an investment in the securities are unclear. |
|
The above summary of selected risks does not describe all of the risks associated with an investment in the securities. You should read the accompanying preliminary pricing supplement and product supplement for a more complete description of risks relating to the securities. |
FAQ
What did ATXG disclose in its July 2, 2025 8-K?
Is the Bitcoin purchase by Addentax Group definitive?
How many Bitcoins could Addentax Group acquire?
Did ATXG reveal how it will finance the Bitcoin acquisition?
What is Exhibit 99.1 referenced in the filing?
