Tian Ruixiang Holdings Ltd. (TIRX) announced that it has entered into a strategic memorandum of understanding with SwiftStart Inc., which could provide up to $80 million in equity capital at a purchase price of $1.50 per share, subject to due diligence and the execution of definitive agreements.
The potential infusion comes at a time when TIRX has reported a net loss of $4 million on revenue of $3.2 million for the fiscal year ending October 31, 2024. The company’s liquidity pressures have been a recurring theme, and the capital raise is intended to shore up working capital and fund ongoing technology and expansion initiatives, including the AI‑driven Ucare health‑tech platform that was acquired in June 2025 for $150 million.
Management emphasized that the memorandum reflects “positive recognition by international investment institutions” of TIRX’s business model and growth potential. SwiftStart highlighted TIRX’s “clear strategic positioning, verifiable operational performance, and resilient growth potential,” underscoring the strategic fit between the two firms.
The investment is particularly significant given TIRX’s recent Nasdaq delisting notification for a minimum bid‑price deficiency. The company has requested a hearing to appeal the decision, and the proposed capital injection is viewed as a critical buffer against the regulatory risk and ongoing liquidity constraints.
The deal aligns with TIRX’s broader strategy to pivot toward AI‑enabled health‑insurance solutions. The Ucare acquisition has expanded the company’s underwriting and claims‑processing capabilities, and the additional capital would accelerate the commercialization of the platform and support further product development.
The memorandum is still in the MOU stage; no definitive agreements have been signed, and the investment is contingent on satisfactory due diligence. If completed, the transaction would represent the most material financing event reported for TIRX on January 28, 2026.
The announcement signals a shift in TIRX’s capital structure and strategic direction, potentially altering long‑term forecasts for revenue growth, profitability, and risk exposure.
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