iFresh Inc. (NasdaqCM:IFMK) entered into an agreement to acquire Jiuxiang Blue Sky Technology (Beijing) Co., Ltd. from Zhang Fei and Liu Meng for $4.6 million on August 6, 2020. As per terms, iFresh will issue 5.03 million shares of iFresh's common stock and 1,000 shares of iFresh's series C convertible preferred stock that will be converted into 1.9 million shares of iFresh's common stock. The deal is subject to approval by relevant Authority in the PRC, Jiuxiang Blue Sky Technology (Beijing) to apply to register with Administration for Market Regulation the amended articles of the company.