Director Diyong Xu acquired 1,875,000 shares for $15,000,000.00 at $8.00 via 2 transactions in private placement deal
Director Diyong Xu completed two separate purchases totaling 1,875,000 shares for $15,000,000.00 at $8.00 per share on 2026-05-28. The filing is flagged as a private placement, PIPE, registered direct, or IPO allocation—not a discretionary open-market purchase, so this transaction does not reflect independent insider conviction. The current stock price of $11.66 stands 11.3% below the 52-week high of $13.15, and the company reported zero revenue in the latest quarter with net income of -$7,609,000.00. The acquisition is noteworthy as a significant capital commitment ($15.0M) by a director during structured financing, but investors should distinguish this from voluntary open-market accumulation.