GD Culture Group amends JV equity purchase: shares reduced to 400k for 13.33% stake

GD Culture Group Ltd

Amended agreement reduces GDC shares to 400,000 (from 600,000) at $2.7820 per share for 13.3333% JV interest.
Closing within 30 days of Nov 10, 2023; extendable by 30 days with all parties' written consent.
GDC or buyer (Shanghai Highlight) may terminate with 3 days' written notice.
Transaction structured as share issuance by GDC; no operational or financial details of JV disclosed.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

GD Culture Group Ltd amended Amended and Restated Agreement with Entertainment Co., Ltd. ("Shanghai Highlight"), Beijing Hehe Property Management Co., Ltd. ("Beijing Hehe") valued at 400,000 shares of common stock of the Company, valued at the Per Share Price (effective 2023-11-10).

Action: amendment
Agreement: equity purchase
Counterparty: Entertainment Co., Ltd. ("Shanghai Highlight"), Beijing Hehe Property Management Co., Ltd. ("Beijing Hehe")
Value: 400,000 shares of common stock of the Company, valued at the Per Share Price
Effective: 2023-11-10

Exact text from the filing

On November 10, 2023, the Company entered into an amended and restated equity purchase agreement (the “Amended and Restated Agreement”) that amended and replaced the Original Agreement.

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Source: SEC EDGAR

accession 0001213900-23-086167

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