JRSS 8-K: JRSIS to issue 76.8M shares for rights to 85.53% of Yongzhou JIT net income

JRSIS to issue 76.8M shares for rights to 85.53% of Yongzhou JIT net income

JRSIS HEALTH CARE Corp

Laidian (JRSIS sub) provides management services to Yongzhou JIT for 85.53% of its net income.

JRSIS to issue 76,757,439 common shares to Jumi GCL (BVI) as consideration.

Closing conditions: Yongzhou JIT US-GAAP audited fin'ls; board resignations of Huang & Chen; VIE compliance.

Board changes: Zhifei Huang, Zhuowen Chen resign; Linhai Zhu appointed; Zhuowei Zhong becomes Secretary.

Agreement terminates if closing not completed by December 31, 2023.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

JRSIS HEALTH CARE Corp entered into Agreement to Contract with Laidian Technology (Zhongshan) Co., Ltd., Zhuowei Zhong, Yongzhou Jumi Intelligent Technology Co., Ltd., Guangzhou Jumi Intelligent Equipment Co., Ltd., Linhai Zhu, Yulin Investment (Guangzhou) Partnership L.P., Jumi Intelligent Information Technology (Guangzhou) Partnership L.P., Jumi Group Company valued at 76,757,439 shares of common stock (effective 2023-10-18).

Action: entry
Counterparty: Laidian Technology (Zhongshan) Co., Ltd., Zhuowei Zhong, Yongzhou Jumi Intelligent Technology Co., Ltd., Guangzhou Jumi Intelligent Equipment Co., Ltd., Linhai Zhu, Yulin Investment (Guangzhou) Partnership L.P., Jumi Intelligent Information Technology (Guangzhou) Partnership L.P., Jumi Group Company
Value: 76,757,439 shares of common stock
Effective: 2023-10-18

Exact text from the filing

On October 18, 2023 JRSIS Health Care Corporation ( "JRSIS" ) entered into an Agreement to Contract (the "Agreement" ) with Laidian Technology (Zhongshan) Co., Ltd. ( "Laidian" ), Zhuowei Zhong, Yongzhou Jumi Intelligent Technology Co., Ltd. ( "Yongzhou JIT" ), Guangzhou Jumi Intelligent Equipment Co., Ltd. ( "Guangzhou JIE" ), Linhai Zhu, Yulin Investment (Guangzhou) Partnership L.P. ( "Yulin IGP" ), Jumi Intelligent Information Technology (Guangzhou) Partnership L.P. ( "Jumi IIP" ) and Jumi Group Company, Ltd. ( "Jumi GCL" ).

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