---
schema_version: "secwatch.filing_event.v1"
accession: "0001013762-23-007329"
form_type: "8-K"
ticker: "GDC"
cik: "0001641398"
company_name: "GD Culture Group Ltd"
filed_at: "2023-10-27T23:59:59+00:00"
generated_at: "2026-06-09T07:03:53.851267+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# GDC issues 600K shares to acquire remaining 20% stake in Shanghai Xianzhui joint venture

## Summary
- Shanghai Highlight (GDC subsidiary) to buy Beijing Hehe's 20% interest in Shanghai Xianzhui Technology Co., Ltd.
- GDC to issue 600,000 shares valued at $2.7820/share (~$1.67M) as consideration; closing within 30 days.
- Issuance represents ~19.6% dilution based on 3,053,563 shares outstanding per agreement.
- GDC's total ownership in the joint venture will increase from 60% to 80% after transaction.

## SEC filing metadata
- accession: 0001013762-23-007329
- form_type: 8-K
- ticker: GDC
- cik: 0001641398
- company_name: GD Culture Group Ltd
- filed_at: 2023-10-27T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1641398/000101376223007329/0001013762-23-007329-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1641398/000101376223007329/ea187388-8k_gdculture.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001013762-23-007329
- JSON: https://secwatch.observer/filing/0001013762-23-007329.json
- Plain text: https://secwatch.observer/filing/0001013762-23-007329.txt

## Key facts
- Material Agreements
  GD Culture Group Ltd entered into Agreement with Shanghai Highlight and Beijing Hehe (effective 2023-10-27).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: Shanghai Highlight and Beijing Hehe
  - Effective: 2023-10-27
  source text: On October 27, 2023, the Company entered into an equity purchase agreement (the “Agreement”) with Shanghai Highlight and Beijing Hehe, pursuant to which the Shanghai Highlight agreed to purchase the 20% equity interest in the Joint Venture from Beijing Hehe and the Company agreed to issue 600,000 shares of common stock of the Company, valued at $2.7820 per share, the average closing bid price of the common stock of GDC as of the five trading days immediately preceding the date of the Agreement, to Beijing Hehe or its assigns.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1641398/000101376223007329/0001013762-23-007329-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.