UCASU Founder Purchased More Than 3% Outstanding Shares of the Company via a Private Deal

ATLANTA--(BUSINESS WIRE)--“Larry” Xianghong Wu, the founder and major general partner of UC Asset LP (OTCQX: UCASU) filed a Form 4 to report his purchase of 172,953 common units of UCASU, which accounts for 3.2% of all issued and outstanding shares of the company, through a private deal which was closed on October 07, 2020.

The filing of Form 4 was delayed due to the SEC process of acquisition of an Edgar code for the filer.

“I started the company 4 years ago with the goal to build it into a billion-dollar business listed on a major exchange, such as NASDAQ or NYSE,” states Larry Wu. “We are much closer to that goal than we were 4 years ago, and I personally am much more confident in the enterprise value of our business than I was 4 years ago.”

The seller of those shares is not disclosed in SEC filings. But the company indicates it is one of the early round investors who has a need to liquidate his holdings out of personal reasons.

“I bought those shares because I have faith in the future of our company. I plan to hold a majority part of those purchased shares for a long term, and I intend to buy more shares of UCASU if there will be similar opportunities,” says Larry Wu.

About UC Asset LP

UC Asset LP is a limited partnership formed for the purpose of investing in real estate for development and redevelopment, concentrating in metropolitan areas of Atlanta, GA and Dallas, TX. For more information about UC Asset, please visit: www.ucasset.com

Disclaimer:

This News Release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause our actual results, performance or achievements, or industry results, to differ materially from any these statements. You are cautioned not to place undue reliance on any those forward-looking statements. Except as otherwise required by the federal securities laws, we undertake no obligation to publicly update or revise any forward-looking statements after the date of this news release. None of such forward-looking statements should be regarded as a representation by us or any other person that the objectives and plans set forth in this News Release will be achieved or be executed.