BIMI Holdings Inc.: M&A transaction — BIMI sells subsidiary Zhuoda Pharmaceutical back to former owners for 440,000 shares

BIMI Holdings Inc.

Sold 100% of Chongqing Zhuoda Pharmaceutical Co., Ltd. to its former owners.
Consideration was return of 440,000 shares of BIMI common stock previously issued.
Transaction closed November 23, 2022; shares returned as full payment.
Divestiture effectively reverses the prior acquisition of Zhuoda.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.95

BIMI Holdings Inc. completed a disposition involving former owners of Zhuoda for 440,000 shares of the Company's common stock returned to the Company (closed 2022-11-23).

Action: disposition
Counterparty: former owners of Zhuoda
Consideration: 440,000 shares of the Company's common stock returned to the Company
Closing: 2022-11-23

Exact text from the filing

Pursuant to the Agreement, the Company sold 100% of the equity interests in Zhuoda in consideration for the 440,000 shares of the Company’s common stock previously issued to the former owners of Zhouda, which purchase price was subject to post-closing payments based on performance in 2022 and 2023. The transaction closed effective November 23, 2022, when 100% of the equity interests in Zhuoda were transferred to the buyers and the 440,000 shares of the Company’s common stock were returned to the Company as the full consideration.

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Source: SEC EDGAR

accession 0001213900-22-075315

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