ATIF (ZBAI) said late Wednesday that it has signed a non-binding letter of intent to acquire Mask Global Market, a Dubai-based firm connecting Web2 and Web3 via its cryptocurrency exchange.

Under the LOI, ATIF plans to acquire 100% of Mask Global shares in return for ZBAI Class A ordinary shares, with the final terms subject to due diligence and audited financial review, ATIF said.

Shares of ATIF jumped 36% during after-hours activity.