AACG · ATA Creativity Global

ATA Creativity Global (NASDAQ: AACG) filed a Form 6-K on May 6, 2026, providing notice of an extraordinary general meeting of shareholders to be held virtually on June 5, 2026. The meeting agenda includes four key proposals. First, the Disposition Proposal involves the sale of the Company's direct and indirect subsidiaries, specifically ATA Testing Authority (Holdings) Limited (ATA BVI) and a 69.0417% equity interest in Beijing Huanqiuyimeng Education Consultation Corp., to Robox Holding Limited for nominal cash consideration of RMB1. This transaction is structured under a share purchase agreement dated May 6, 2026. Second, the PIPE Proposal contemplates a private placement where the Company will issue and sell 45,306,792 common shares at a per share price of US$21,145,961 to a certain investor, pursuant to a subscription agreement also dated May 6, 2026. Third, the Re-Election of Directors Proposal seeks to re-elect Haoyu Wang and Zhiping Feng as Class C directors. Fourth, the Incentive Plan Proposal seeks ratification of the Company's third amended and restated 2008 Employee Share Incentive Plan, as approved by the Board on April 8, 2026. The Board unanimously recommends a vote 'FOR' each proposal. The record date for determining shareholders entitled to vote is May 6, 2026. The meeting will be conducted virtually via live webcast and teleconference, with shareholders unable to attend physically. The filing includes the proxy statement, form of proxy, depositary notice, and voting instruction card as exhibits. These proposals represent significant corporate actions that could substantially alter the Company's asset base, capital structure, and governance.