Advanced Health Intelligence Ltd (ASX: AHI) (NASDAQ:AHI) (the “Company”) is pleased to inform shareholders that the Company has executed a binding exclusive, perpetual license with Shanghai-based Changlin Network Technology Ltd (“Changlin”)
AHI executes a binding exclusive, perpetual license with Shanghai-based Changlin Network Technology Ltd. • Changlin is backed by founders with 50 years of global health insurance sector experience. • The license agreement includes an upfront payment of USD$10 million to AHI, • AHI will receive an annual license fee of USD$5m. • AHI will receive 25% revenue share of gross sales. • Changlin targeting Initial Public Offering in 2024 (IPO). • Changlin will issue an initial 50% holding to AHI. which is expected to reconstruct to 25% but not less than 20% of its common shares to AHI at the IPO. • Changlin must obtain financing to complete the license payment. Should this not occur, the license will not be granted. • SAFE approval in China cannot be preapproved and will be sorted once the financing closes. License payments cannot be made without SAFE approval
