05:06 PM EDT, 05/28/2025 (MT Newswires) -- BGM Group ( BGM ) agreed to buy both Xingdao Intelligent Cloud Chain and YD Network Technology for a combined 800 million renminbi ($111.2 million) in stock to expand AI holdings.

BGM plans to issue 37.1 million new Class A common shares at $3 apiece for the acquisitions.

The transactions are expected to close by the end of June, BGM said Wednesday in a statement.

After the close, Xingdao and YD Network shareholders will own a combined 15.6% of BGM's outstanding shares.