Ownership Restructuring

A framework agreement for TikTok, addressing data security concerns related to its Chinese parent company ByteDance, is nearing completion, potentially within 30-45 days. The restructuring will involve new investors alongside existing ByteDance stakeholders. Oracle’s cloud computing agreement with TikTok will remain intact, continuing its role in addressing U.S. security concerns through data management. Initial capital infusion is expected to be relatively small, focusing on restructuring rather than expansion, with no immediate plans for an IPO. The deal aims to alleviate national security and data privacy concerns.