ATA Creativity Global (formerly ATA Inc.) provides computer-based testing services in the People\'s Republic of China. The company offers services for the creation and delivery of computer-based tests utilizing its test delivery platform and proprietary testing technologies that are used for professional licensure and certification tests in various industries, including IT services, banking, teaching, and insurance; and administrative services, such as test registration, scheduling, fee collection, and certification fulfillment. Its e-testing platform integrates various aspects of the test delivery process for computer-based tests, from test form compilation to test scoring and results analysis; and mobile test administration platform MTS enhances test administration. The company was founded in 1999 and is based in Beijing, China.
ATA Creativity Global (“ACG” or the “Company”, Nasdaq: AACG), a company focused on providing students with quality educational experiences and services in China and abroad, today announced that it entered into a Subscription Agreement (the “Subscription Agreement”) with CL-TCC, a company focusing on investments in culture and education industry, in connection with the private placement of the Company’s common shares. Under the terms of the Subscription Agreement, CL-TCC has agreed to subscribe to a total of 5,662,634 common shares (the “Subscription Shares”) of the Company for an aggregate price of US$10,022,862.18, or $1.77 per share (the “Transaction”).