SHANGHAI, March 25, 2020 /PRNewswire/ -- China Rapid
Finance Limited (NYSE: XRF) today announced it has reached a
non-binding letter of intent on investment and cooperation with SOS
Health Rescue Services Ltd. ("SOS"). Subject to due diligence and
other conditions, the parties may enter into a merger or similar
transaction in which SOS or its stockholders will own a controlling
interest of the outstanding equity in XRF. The transaction is
subject to numerous conditions and there is of course no assurance
that such a transaction will be consummated on the terms and
timeline indicated.
This merger, if completed, will allow XRF to enter the new and
growing area of consumer health services and health care related
financial services.
XRF and SOS are targeting the signing of the initial agreement
by end of March 2020.
About China Rapid
Finance
China Rapid Finance (NYSE: XRF) is a fintech company that offers
technology solutions for decision makers and related marketing
services that addresses China's
growing consumer credit market. The Company utilizes its
proprietary technology and 18 years of experience to provide its
services. The Company is establishing partnerships and is currently
developing strategic alternatives and new businesses in financial
technology, marketing services and loan portfolio management. For
more information, please visit http://ir.crfchina.com.
About SOS Health Rescue Services Ltd.
SOS Health Rescue Services Ltd is one of the largest health
rescue services providers in China. It offers the equivalent of a private
911 call service for emergencies. Through its cloud based
technologies and nationwide call centers, it works closely with
hospitals, insurance companies, large corporations, nursing homes,
police and communities to provide health related emergency
transportation and rescue on demand services.
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SOURCE China Rapid Finance
