Cheer Holding, Inc.

On February 14, 2020, our predecessor, TKK, consummated a Business Combination contemplated by the Share Exchange Agreement dated as of September 6, 2019, as amended ( Share Exchange Agreement ), by and among TKK, Glory Star New Media Group Limited, a Cayman Islands exempted company ( Glory Star ), Glory Star New Media (Beijing) Technology Co., Ltd., a wholly foreign-owned enterprise limited liability company ( WFOE ) incorporated in the People’s Republic of China ( PRC ) and indirectly wholly-owned by Glory Star, Xing Cui Can, Horgos, each of Glory Star’s shareholders (collectively, the Sellers ), TKK Symphony Sponsor 1, TKK’s sponsor (the Sponsor ), in the capacity as the representative from and after the closing of the Business Combination for TKK’s shareholders other than the Sellers, and Bing Zhang, in the capacity as the representative for the Sellers thereunder, pursuant to which Cheer Holding, Inc. ( CHEER Holdings ) acquired 100% of the equity interests of Glory Star from the Sellers. 47 Upon the close of the Business Combination, we acquired all of the issued and outstanding securities of Glory Star in exchange for approximately 92,408 of our Class A Ordinary Shares, which includes 20,000 Class A Ordinary Shares that were issued to the former shareholders of Glory Star because certain financial performance targets were attained for both 2019 and 2020 fiscal years. As a result of the Business Combination, Sellers became the controlling shareholders of the Company.