Cenntro proposes re-domiciliation to US via scheme; 1-for-1 share exchange for HoldCo shares

Cenntro Inc.

Cenntro entered a Scheme Implementation Agreement with newly formed Nevada HoldCo; shareholders receive one HoldCo share per CENN share.
Scheme requires shareholder and Australian court approval; target implementation by Dec 31, 2023; HoldCo to list on Nasdaq.
Board unanimously recommends the scheme, subject to independent expert's positive opinion; cites reduced CFIUS risk and cost savings.
Cenntro will delist from Nasdaq upon scheme implementation; HoldCo will apply for listing.
Independent expert Lonergan Edwards will assess fairness; scheme booklet expected October 2023.

item 1.01 item 8.01 item 9.01

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

Cenntro Inc. entered into Scheme Implementation Agreement with Cenntro Inc. (effective 2023-09-08).

Action: entry
Agreement: merger
Counterparty: Cenntro Inc.
Effective: 2023-09-08

Exact text from the filing

On September 8, 2023, Cenntro Electric Group Limited ACN 619 054 938 (the “Company”) entered into a Scheme Implementation Agreement with Cenntro Inc.

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Cenntro Inc. filing history →

Source: SEC EDGAR

accession 0001140361-23-043515

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