Summary by Futu AI
JS Global Lifestyle announced on April 26, 2024 that its wholly owned subsidiary JS Global Trading has entered into a debt transfer agreement with SharkNinja Operating LLC. Under the agreement, SharkNinja Operating will transfer to its holdings Cosmo & Company, Inc. all receivables and liabilities arising from the purchase of JS Global Living Products totaling $1,890,690. The move is designed to reduce the uncertainty and credit risk associated with the debt, and interest is expected to be charged. Once completed, the transaction will help improve the efficiency of communication with Cosmo and accelerate debt settlement, further strengthening the two parties' business relationship. The Board considers that the terms of the transaction are fair and reasonable and in the overall interests of the Company and its shareholders. SharkNinja Operating is a wholly-owned subsidiary of SharkNinja, and SharkNinja is owned by JS&W Global Holding Limited Partnership, which was listed on the New York Stock Exchange on July 31, 2023 (stock code: SN).