---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-23-011666"
form_type: "8-K"
ticker: null
cik: "0001563227"
company_name: "Sipup Corp"
filed_at: "2023-02-15T23:59:59+00:00"
generated_at: "2026-06-19T11:19:19.327875+00:00"
event_type: "m_and_a"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Sipup rescinds acquisition of VeganNation; CEO resigns, interim appointed

## Summary
- Rescission agreement terminates Sept 2021 share exchange; Sipup returns VeganNation shares and cancels 41,062,240 Sipup shares.
- Sipup receives 2M unrestricted GreenCoins (locked through May 2023) and option to acquire 14M more through June 2024.
- CEO Isaac Thomas resigned Jan 31, 2023; director Baruch Yadid named interim CEO effective Feb 3, 2023.
- Mutual releases exchanged; VeganNation to assist with Sipup's 2021 audit.

## SEC filing metadata
- accession: 0001213900-23-011666
- form_type: 8-K
- cik: 0001563227
- company_name: Sipup Corp
- filed_at: 2023-02-15T23:59:59+00:00
- event_type: m_and_a
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.01, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1563227/000121390023011666/0001213900-23-011666-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1563227/000121390023011666/ea173199-8k_sipupcorp.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-23-011666
- JSON: https://secwatch.observer/filing/0001213900-23-011666.json
- Plain text: https://secwatch.observer/filing/0001213900-23-011666.txt

## Key facts
- Executive change
  Baruch Yadid was appointed as interim chief executive officer at Sipup Corp.
  - Action: appointed
  - Role: interim chief executive officer
  source text: On February 3, 2023, Mr. Baruch Yadid, a directo,r was appointed as interim chief executive officer.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1563227/000121390023011666/0001213900-23-011666-index.htm
- Executive change
  Isaac Thomas resigned as Chief Executive Officer at Sipup Corp.
  - Action: resigned
  - Role: Chief Executive Officer
  source text: On January 31, 2023 Mr. Isaac Thomas resigned from all position held with Sipup, including his directorship and as chief Executive Officer.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1563227/000121390023011666/0001213900-23-011666-index.htm
- M&A Transactions
  Sipup Corp completed a disposition involving VeganNation Services, Ltd. (closed 2023-01-31).
  - Action: disposition
  - Counterparty: VeganNation Services, Ltd.
  - Closing: 2023-01-31
  source text: Under the Rescission Agreement, which closed as of January 31, 2023, the parties agreed to the following ● Sipup shall have no ownership interest in VeganNation, and therefore VeganNation shall no longer be a subsidiary of Sipup; ● All of the Ordinary Shares transferred by the VeganNation shareholders to Sipup under the Exchange Agreement were transferred and conveyed by Sipup to the VeganNation shareholders. ● All of the shares of common stock transferred by Sipup to the VeganNation shareholders under the terms of the Exchange Agreement will be cancelled and returned to the treasury of Sipup.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1563227/000121390023011666/0001213900-23-011666-index.htm
- Material Agreements
  Sipup Corp terminated Share Exchange Agreement with VeganNation Services, Ltd. (effective 2022-11-30).
  - Action: termination
  - Agreement: merger
  - Counterparty: VeganNation Services, Ltd.
  - Effective: 2022-11-30
  source text: On November 30, 2022 Sipup Corp. ( “Sipup,” “we,” “us” or the “Company”) entered into a Rescission Agreement (the “Rescission Agreement”) with VeganNation Services, Ltd., a company formed under the laws of the State of Israel (“VeganNation”) and the shareholders of VeganNation. pursuant to which the previously disclosed Share Exchange Agreement entered into as of September 30,. 2021 amongst the parties (the “Share Exchange Agreement”) was terminated and rescinded in its entirety.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1563227/000121390023011666/0001213900-23-011666-index.htm

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