Investing.com-- TikTok is developing a new version of its app for U.S. users as it prepares for a potential sale of its American operations, The Information reported on Sunday, citing people familiar with the matter.

The redesigned app, internally known as “M2,” is expected to launch in U.S. app stores on September 5. Existing users will eventually be required to switch to the new app, although the current version will continue operating until March 2026, the report said.

The move comes as President Donald Trump’s administration nears an agreement for the sale of TikTok’s U.S. operations to a group of non-Chinese investors led by Oracle (NYSE: ORCL ). Parent company ByteDance is expected to retain a minority stake, subject to Chinese government approval — the key remaining hurdle.

TikTok’s migration strategy, which affects over 170 million U.S. users, is considered highly unusual and carries risks of user loss. However, it may help address long-standing data security concerns, The Information reported.

The next deadline for TikTok to comply with U.S. law mandating a ByteDance divestiture is September 17, just days after the planned relaunch.

A person familiar with the matter told The Information that the investor group involved in the deal has been finalizing terms with ByteDance and expects to announce it once Chinese authorities approve the sale.