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[6-K/A] ATA Creativity Global American Amended Current Report (Foreign Issuer)

Filing Impact
(Low)
Filing Sentiment
(Neutral)
Form Type
6-K/A
Rhea-AI Filing Summary

ATA Creativity Global (Nasdaq: AACG) filed a Form 6-K/A to clarify the ADS equivalents in its 1 Aug 2025 non-binding term sheet with Baby BTC Strategic Capital Ltd. The term sheet contemplates:

  • Share Issuance: up to 68,728,522 common shares at US$0.4365 per share (US$0.8730 per ADS) for gross proceeds of up to US$30 million.
  • Warrant: 2-year warrant exercisable at the same per-share economics, allowing Baby Capital to invest up to an additional US$70 million.

Upon closing, Baby Capital would gain control of ACG and nominate three directors. The board plans to allocate most of the proceeds to purchase BABY Token, with the remainder directed to Bitcoin purchases and a potential staking collaboration with Babylon Foundation.

The transaction is non-binding and requires a definitive agreement; there is no guarantee of completion or of the anticipated crypto-related outcomes. Aside from clarifying the ADS pricing, no other information from the original 6-K is amended.

ATA Creativity Global (Nasdaq: AACG) ha presentato un modulo 6-K/A per chiarire gli equivalenti ADS nel suo term sheet non vincolante del 1° agosto 2025 con Baby BTC Strategic Capital Ltd. Il term sheet prevede:

  • Emissione di azioni: fino a 68.728.522 azioni ordinarie a 0,4365 USD per azione (0,8730 USD per ADS) per un ricavo lordo fino a 30 milioni di USD.
  • Warrant: warrant biennale esercitabile con la stessa base economica per azione, che consente a Baby Capital di investire fino a un ulteriore 70 milioni di USD.

Alla chiusura, Baby Capital acquisirà il controllo di ACG e nominerà tre amministratori. Il consiglio intende destinare la maggior parte dei proventi all'acquisto di BABY Token, mentre il resto sarà indirizzato all'acquisto di Bitcoin e a una potenziale collaborazione di staking con Babylon Foundation.

L'operazione è non vincolante e richiede un accordo definitivo; non vi è alcuna garanzia di completamento né dei risultati attesi legati alle criptovalute. A parte il chiarimento sul prezzo degli ADS, nessuna altra informazione del 6-K originale è stata modificata.

ATA Creativity Global (Nasdaq: AACG) presentó un formulario 6-K/A para aclarar los equivalentes de ADS en su hoja de términos no vinculante del 1 de agosto de 2025 con Baby BTC Strategic Capital Ltd. La hoja de términos contempla:

  • Emisión de acciones: hasta 68,728,522 acciones ordinarias a 0.4365 USD por acción (0.8730 USD por ADS) por ingresos brutos de hasta 30 millones de USD.
  • Warrant: warrant de 2 años ejercitable con la misma economía por acción, que permite a Baby Capital invertir hasta un adicional de 70 millones de USD.

Al cierre, Baby Capital obtendría el control de ACG y nominaría a tres directores. La junta planea destinar la mayor parte de los ingresos para comprar BABY Token, destinando el resto a compras de Bitcoin y una posible colaboración de staking con Babylon Foundation.

La transacción es no vinculante y requiere un acuerdo definitivo; no hay garantía de finalización ni de los resultados esperados relacionados con criptomonedas. Aparte de aclarar el precio de los ADS, no se modifica ninguna otra información del 6-K original.

ATA Creativity Global (나스ë‹�: AACG)ëŠ� Baby BTC Strategic Capital Ltd.와ì� 2025ë…� 8ì›� 1ì� 비구ì†� 조건서ì—ì„� ADS ë“±ê°€ë¬¼ì— ëŒ€í•� 명확íž� 하기 위해 6-K/A ì–‘ì‹ì� 제출했습니다. 조건서ì—ëŠ� 다ìŒì� í¬í•¨ë©ë‹ˆë‹�:

  • ì£¼ì‹ ë°œí–‰: 주당 0.4365달러(ADSë‹� 0.8730달러)ë¡� 최대 68,728,522 보통ì£� 발행, ì´� 최대 3,000ë§� 달러 조달.
  • 워런íŠ�: ë™ì¼ 주당 조건으로 2ë…„ê°„ 행사 가능한 워런트로, Baby Capitalì� 추가ë¡� 7,000ë§� 달러까지 투ìží•� ìˆ� 있ìŒ.

거래 종료 ì‹� Baby Capitalì€ ACGì� 지배권ì� 확보하고 ì´ì‚¬ 3ëª…ì„ ì§€ëª…í•  예정입니ë‹�. ì´ì‚¬íšŒëŠ” 조달ê¸� ëŒ€ë¶€ë¶„ì„ BABY í† í° êµ¬ë§¤ì—� 할당하고, 나머지ëŠ� ë¹„íŠ¸ì½”ì¸ êµ¬ë§¤ ë°� Babylon Foundationê³¼ì˜ ìŠ¤í…Œì´í‚¹ 협력ì—� 사용í•� 계íšìž…니ë‹�.

ì� 거래ëŠ� 비구ì†ì ì´ë©° 최종 계약ì� 필요합니ë‹�; 완료ë‚� 예ìƒë˜ëŠ” 암호화í ê´€ë � ê²°ê³¼ì—� 대í•� ë³´ìž¥ì€ ì—†ìŠµë‹ˆë‹¤. ADS ê°€ê²� 명확í™� 외ì—ëŠ� ì›ë³¸ 6-Kì� 다른 ì •ë³´ëŠ� 수정ë˜ì§€ 않았습니ë‹�.

ATA Creativity Global (Nasdaq : AACG) a déposé un formulaire 6-K/A pour clarifier les équivalents ADS dans sa feuille de conditions non contraignante du 1er août 2025 avec Baby BTC Strategic Capital Ltd. La feuille de conditions prévoit :

  • Émission d'actions : jusqu'à 68 728 522 actions ordinaires à 0,4365 USD par action (0,8730 USD par ADS) pour un produit brut pouvant atteindre 30 millions USD.
  • Warrant : warrant de 2 ans exerçable aux mêmes conditions économiques par action, permettant à Baby Capital d'investir jusqu'à un supplément de 70 millions USD.

À la clôture, Baby Capital obtiendrait le contrôle d'ACG et nommerait trois administrateurs. Le conseil prévoit d'allouer la majeure partie des fonds à l'achat de BABY Token, le reste étant destiné à l'achat de Bitcoin et à une collaboration potentielle de staking avec Babylon Foundation.

La transaction est non contraignante et nécessite un accord définitif ; aucune garantie n'est donnée quant à la réalisation ou aux résultats attendus liés aux cryptomonnaies. À l'exception de la clarification du prix des ADS, aucune autre information du 6-K original n'est modifiée.

ATA Creativity Global (Nasdaq: AACG) hat ein Formular 6-K/A eingereicht, um die ADS-Äquivalente in seinem unverbindlichen Term Sheet vom 1. August 2025 mit Baby BTC Strategic Capital Ltd. zu klären. Das Term Sheet sieht vor:

  • Aktienausgabe: bis zu 68.728.522 Stammaktien zu je 0,4365 USD pro Aktie (0,8730 USD pro ADS) für Bruttoerlöse von bis zu 30 Millionen USD.
  • Warrant: 2-jähriger Warrant, der zu denselben wirtschaftlichen Konditionen pro Aktie ausgeübt werden kann und Baby Capital ermöglicht, bis zu weitere 70 Millionen USD zu investieren.

Beim Abschluss würde Baby Capital die Kontrolle über ACG übernehmen und drei Direktoren ernennen. Der Vorstand plant, den Großteil der Erlöse für den Kauf von BABY Token zu verwenden, der Rest soll in Bitcoin-Käufe und eine mögliche Staking-Zusammenarbeit mit der Babylon Foundation fließen.

Die Transaktion ist unverbindlich und erfordert eine endgültige Vereinbarung; es gibt keine Garantie für den Abschluss oder die erwarteten kryptobezogenen Ergebnisse. Abgesehen von der Klarstellung der ADS-Preisgestaltung wird keine weitere Information aus dem ursprünglichen 6-K geändert.

Positive
  • Up to US$100 million capital access (US$30 m cash plus US$70 m warrant) could strengthen liquidity.
  • Strategic investor gains board seats, potentially bringing new expertise and network in Web3.
Negative
  • Significant dilution and control shift as 68.7 m new shares give Baby Capital majority ownership.
  • Use of proceeds in speculative crypto assets deviates from core education business and raises volatility.
  • Non-binding term sheet introduces high execution risk; no assurance of completion.

Insights

TL;DR � Potentially dilutive change-of-control deal, priced below US$1/ADS, still non-binding.

The proposed US$30 million primary issuance and US$70 million warrant could more than double AACG’s share count and transfer control to Baby Capital. At US$0.8730 per ADS, the pricing appears deeply discounted to most historical trading ranges, implying heavy dilution for existing holders. While the cash infusion is sizable relative to AACG’s market cap, intended use of funds—purchasing BABY Token and Bitcoin—adds speculative risk and deviates from AACG’s core education focus. Because the term sheet is non-binding, execution risk is high; investors face near-term uncertainty with little clarity on valuation impact or strategic benefits.

TL;DR � Deal signals pivot toward Web3, but success hinges on closing and crypto market conditions.

Management plans to redeploy most proceeds into BABY Token, Bitcoin purchases and Babylon staking. If finalized, AACG gains a sizeable crypto treasury and a strategic partner, potentially opening DeFi-oriented revenue streams. However, execution depends on volatile token prices, regulatory headwinds and integration with an education business. Until the definitive agreement is signed, the announcement remains an aspirational strategy without operational impact.

ATA Creativity Global (Nasdaq: AACG) ha presentato un modulo 6-K/A per chiarire gli equivalenti ADS nel suo term sheet non vincolante del 1° agosto 2025 con Baby BTC Strategic Capital Ltd. Il term sheet prevede:

  • Emissione di azioni: fino a 68.728.522 azioni ordinarie a 0,4365 USD per azione (0,8730 USD per ADS) per un ricavo lordo fino a 30 milioni di USD.
  • Warrant: warrant biennale esercitabile con la stessa base economica per azione, che consente a Baby Capital di investire fino a un ulteriore 70 milioni di USD.

Alla chiusura, Baby Capital acquisirà il controllo di ACG e nominerà tre amministratori. Il consiglio intende destinare la maggior parte dei proventi all'acquisto di BABY Token, mentre il resto sarà indirizzato all'acquisto di Bitcoin e a una potenziale collaborazione di staking con Babylon Foundation.

L'operazione è non vincolante e richiede un accordo definitivo; non vi è alcuna garanzia di completamento né dei risultati attesi legati alle criptovalute. A parte il chiarimento sul prezzo degli ADS, nessuna altra informazione del 6-K originale è stata modificata.

ATA Creativity Global (Nasdaq: AACG) presentó un formulario 6-K/A para aclarar los equivalentes de ADS en su hoja de términos no vinculante del 1 de agosto de 2025 con Baby BTC Strategic Capital Ltd. La hoja de términos contempla:

  • Emisión de acciones: hasta 68,728,522 acciones ordinarias a 0.4365 USD por acción (0.8730 USD por ADS) por ingresos brutos de hasta 30 millones de USD.
  • Warrant: warrant de 2 años ejercitable con la misma economía por acción, que permite a Baby Capital invertir hasta un adicional de 70 millones de USD.

Al cierre, Baby Capital obtendría el control de ACG y nominaría a tres directores. La junta planea destinar la mayor parte de los ingresos para comprar BABY Token, destinando el resto a compras de Bitcoin y una posible colaboración de staking con Babylon Foundation.

La transacción es no vinculante y requiere un acuerdo definitivo; no hay garantía de finalización ni de los resultados esperados relacionados con criptomonedas. Aparte de aclarar el precio de los ADS, no se modifica ninguna otra información del 6-K original.

ATA Creativity Global (나스ë‹�: AACG)ëŠ� Baby BTC Strategic Capital Ltd.와ì� 2025ë…� 8ì›� 1ì� 비구ì†� 조건서ì—ì„� ADS ë“±ê°€ë¬¼ì— ëŒ€í•� 명확íž� 하기 위해 6-K/A ì–‘ì‹ì� 제출했습니다. 조건서ì—ëŠ� 다ìŒì� í¬í•¨ë©ë‹ˆë‹�:

  • ì£¼ì‹ ë°œí–‰: 주당 0.4365달러(ADSë‹� 0.8730달러)ë¡� 최대 68,728,522 보통ì£� 발행, ì´� 최대 3,000ë§� 달러 조달.
  • 워런íŠ�: ë™ì¼ 주당 조건으로 2ë…„ê°„ 행사 가능한 워런트로, Baby Capitalì� 추가ë¡� 7,000ë§� 달러까지 투ìží•� ìˆ� 있ìŒ.

거래 종료 ì‹� Baby Capitalì€ ACGì� 지배권ì� 확보하고 ì´ì‚¬ 3ëª…ì„ ì§€ëª…í•  예정입니ë‹�. ì´ì‚¬íšŒëŠ” 조달ê¸� ëŒ€ë¶€ë¶„ì„ BABY í† í° êµ¬ë§¤ì—� 할당하고, 나머지ëŠ� ë¹„íŠ¸ì½”ì¸ êµ¬ë§¤ ë°� Babylon Foundationê³¼ì˜ ìŠ¤í…Œì´í‚¹ 협력ì—� 사용í•� 계íšìž…니ë‹�.

ì� 거래ëŠ� 비구ì†ì ì´ë©° 최종 계약ì� 필요합니ë‹�; 완료ë‚� 예ìƒë˜ëŠ” 암호화í ê´€ë � ê²°ê³¼ì—� 대í•� ë³´ìž¥ì€ ì—†ìŠµë‹ˆë‹¤. ADS ê°€ê²� 명확í™� 외ì—ëŠ� ì›ë³¸ 6-Kì� 다른 ì •ë³´ëŠ� 수정ë˜ì§€ 않았습니ë‹�.

ATA Creativity Global (Nasdaq : AACG) a déposé un formulaire 6-K/A pour clarifier les équivalents ADS dans sa feuille de conditions non contraignante du 1er août 2025 avec Baby BTC Strategic Capital Ltd. La feuille de conditions prévoit :

  • Émission d'actions : jusqu'à 68 728 522 actions ordinaires à 0,4365 USD par action (0,8730 USD par ADS) pour un produit brut pouvant atteindre 30 millions USD.
  • Warrant : warrant de 2 ans exerçable aux mêmes conditions économiques par action, permettant à Baby Capital d'investir jusqu'à un supplément de 70 millions USD.

À la clôture, Baby Capital obtiendrait le contrôle d'ACG et nommerait trois administrateurs. Le conseil prévoit d'allouer la majeure partie des fonds à l'achat de BABY Token, le reste étant destiné à l'achat de Bitcoin et à une collaboration potentielle de staking avec Babylon Foundation.

La transaction est non contraignante et nécessite un accord définitif ; aucune garantie n'est donnée quant à la réalisation ou aux résultats attendus liés aux cryptomonnaies. À l'exception de la clarification du prix des ADS, aucune autre information du 6-K original n'est modifiée.

ATA Creativity Global (Nasdaq: AACG) hat ein Formular 6-K/A eingereicht, um die ADS-Äquivalente in seinem unverbindlichen Term Sheet vom 1. August 2025 mit Baby BTC Strategic Capital Ltd. zu klären. Das Term Sheet sieht vor:

  • Aktienausgabe: bis zu 68.728.522 Stammaktien zu je 0,4365 USD pro Aktie (0,8730 USD pro ADS) für Bruttoerlöse von bis zu 30 Millionen USD.
  • Warrant: 2-jähriger Warrant, der zu denselben wirtschaftlichen Konditionen pro Aktie ausgeübt werden kann und Baby Capital ermöglicht, bis zu weitere 70 Millionen USD zu investieren.

Beim Abschluss würde Baby Capital die Kontrolle über ACG übernehmen und drei Direktoren ernennen. Der Vorstand plant, den Großteil der Erlöse für den Kauf von BABY Token zu verwenden, der Rest soll in Bitcoin-Käufe und eine mögliche Staking-Zusammenarbeit mit der Babylon Foundation fließen.

Die Transaktion ist unverbindlich und erfordert eine endgültige Vereinbarung; es gibt keine Garantie für den Abschluss oder die erwarteten kryptobezogenen Ergebnisse. Abgesehen von der Klarstellung der ADS-Preisgestaltung wird keine weitere Information aus dem ursprünglichen 6-K geändert.

 

 

 

United States

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON D.C. 20549

 

FORM 6-K/A

 

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE

SECURITIES EXCHANGE ACT OF 1934

 

For the month of August 2025

 

Commission File Number: 001-33910

 

ATA Creativity Global

 

c/o Rm. 507, Bldg. 3, BinhuZhuoyueCheng,

WenhuaKechuangYuan, Huayuan Blvd. 365,

Baohe, Hefei, Anhui 230051, China

(Address of principal executive offices)

 

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

 

Form 20-F   x      Form 40-F   ¨

 

 

 

 

 

 

Explanatory Note

 

On August 1, 2025, the registrant furnished with the Securities and Exchange Commission a report on Form 6-K (the “Original Report”) to announce that the registrant entered into a non-binding term sheet with Baby BTC Strategic Capital Limited, pursuant to which, the registrant will issue to Baby BTC Strategic Capital Limited (i) common shares of the registrant at certain per share purchase price, and a warrant to purchase common shares of the registrant at certain per share exercise price. However, the Original Report did not specify the equivalent purchase price and exercise price per American Depositary Share of the registrant, each of which represents two common shares of the registrant. The registrant is furnishing this amended Report on Form 6-K/A to supplement and clarify such equivalent purchase price and exercise price per American Depositary Share of the registrant.

 

This amended Report on Form 6-K/A does not reflect events occurring after the filing of the Original Report, and does not update disclosures contained in the Original Report or modify or amend the Original Report except as specifically described in this Explanatory Note.

 

This amended Report on Form 6-K/A is incorporated by reference into the Company’s Registration Statement on Form F-3 (File No. 333-278921), filed with the Securities and Exchange Commission on April 25, 2024, to be a part thereof from the date on which this amended Report is submitted, to the extent not superseded by documents or reports subsequently filed or furnished.

 

2

 

 

ATA Creativity Global Entered into a Non-Binding Term Sheet with Baby BTC Strategic Capital Limited

 

ATA Creativity Global (“ACG” or the “Company”, Nasdaq: AACG), an international educational services company focused on providing quality learning experiences that cultivate and enhance students’ creativity, today announced that, on August 1 2025, it entered into a non-binding term sheet (the “Term Sheet”) with Baby BTC Strategic Capital Limited (“Baby Capital”) pursuant to which, the Company will (1) issue up to 68,728,522 common shares (the “Common Shares”), with a par value US$0.01 per share, to Baby Capital at the per share purchase price equivalent to US$0.8730 per American Depositary Share, each of which represents two Common Shares (i.e., the per share purchase price of US$0.4365 per Common Share), for an aggregate purchase price of up to US$30,000,000 (the “Share Issuance”); and (2) at the closing of the Share Issuance, issue a warrant with 2-year term, pursuant to which Baby Capital shall have the right to purchase certain number of Common Shares at the per share exercise price equivalent to US$1.7460 per American Depositary Share (i.e., US$0.8730 per Common Share), for an aggregate exercise price of up to US$70,000,000. The Company and Baby Capital agree to negotiate in good faith and enter into a definitive share purchase agreement within two months after the date of the Term Sheet. Upon the completion of the Share Issuance, Baby Capital is expected to obtain control of the Company, and it will have the right to appoint and designate three new directors to the board of directors of the Company.

 

Subject to the approval by the board of directors of the Company, the proceeds from the above transaction will be mainly used to purchase BABY Token in the market, while the remainder will be used to purchase Bitcoin and collaborate with Babylon Foundation on Bitcoin staking, which aims to deploy new Bitcoin into ecological applications like Decentralized Finance.

 

The transactions contemplated under the Term Sheet is subject to the negotiation and execution of a definitive share purchase agreement. There can be no assurance that the definitive share purchase agreement will be entered into, nor that the potential transactions contemplated hereunder will be consummated on the terms set forth in the Term Sheet, nor that the cooperation with Babylon will produce any expected outcome, or at all.

 

About ATA Creativity Global

 

ATA Creativity Global is an international educational services company focused on providing quality learning experiences that cultivate and enhance students’ creativity. ATA Creativity Global offers a wide range of education services consisting primarily of portfolio training, research-based learning services, overseas study counselling and other educational services through its training center network. For more information, please visit ACG’s website at www.atai.net.cn.

 

Cautionary Note Regarding Forward-looking Statements

 

This report contains statements that may constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terms such as “will,” “should,” “could,” “expect,” “anticipate,” “aim,” “future,” “intend,” “plan,” “believe,” “estimate,” “forecast,” “outlook,” “likely to” and similar statements. ACG may also make written or oral forward-looking statements in its periodic reports to the SEC, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about ACG’s beliefs, plans and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, further information regarding which is included in the Company’s filings with the SEC. For example in this report, we are using forward-looking statements when we are discussing the entry into the Term Sheet, the potential sale of Common Shares and our intention to cooperate with Babylon and expand the Company’s business to web 3.0 field and Bitcoin ecosystem. These forward-looking statements are subject to a number of risks and uncertainties, which could cause the actual results to differ materially from those indicated in these forward-looking statements. There can be no assurance that the definitive share purchase agreement will be entered into, nor that the potential transactions contemplated hereunder will be consummated on the terms set forth in the Term Sheet, nor that the cooperation with Babylon will produce any expected outcome, or at all. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this report. All information provided in this report is as of the date of this report, and ACG undertakes no duty to update such information to reflect events or circumstances that arise after the date hereof, except as required under applicable law.

 

3

 

 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

  ATA Creativity Global
     
  By: /s/ Ruobai Sima
  Name: Ruobai Sima
  Title: Chief Financial Officer

 

Date: August 4, 2025

 

4

 

FAQ

What is the purchase price per AACG American Depositary Share?

The term sheet sets the price at US$0.8730 per ADS, equal to US$0.4365 per common share.

How much capital could ATA Creativity Global raise from Baby Capital?

Up to US$30 million from the share issuance and an additional US$70 million if the warrant is fully exercised.

Will Baby BTC Strategic Capital gain control of AACG?

Yes. Upon completion of the share issuance, Baby Capital is expected to obtain control and appoint three directors.

How does AACG plan to use the proceeds?

Primarily to purchase BABY Token, with remaining funds allocated to Bitcoin purchases and Bitcoin staking initiatives with Babylon Foundation.

Is the transaction guaranteed to close?

No. The term sheet is non-binding and subject to a definitive agreement; closing is uncertain.
Ata Creativity Global

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50.60M
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Education & Training Services
Consumer Defensive
China
Hefei