GD Culture Group amends warrant terms to remove anti-dilution adjustments after Nasdaq comment

GD Culture Group Ltd

On Nov 17, 2023, entered amendment to Oct 31, 2023 securities purchase agreement.
Removed Sections 2(b) and 2(e) from registered warrants regarding adjustment upon issuance of common stock and other events.
Original registered warrants cancelled; amended and restated warrants issued to each purchaser.
Amendment driven by Nasdaq staff comments on the form of registered warrant.

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 Amendment to Securities Purchase Agreement with certain purchasers valued at Removed Section 2(b) Adjustment Upon Issuance of Common Stock and Section 2(e) Other Events from the (effective 2023-11-17).

Action: amendment
Agreement: equity purchase
Counterparty: certain purchasers
Value: Removed Section 2(b) Adjustment Upon Issuance of Common Stock and Section 2(e) Other Events from the
Effective: 2023-11-17

Exact text from the filing

On November 17, 2023, the Company entered into an amendment to the Securities Purchase Agreement with the Purchasers, pursuant to which Exhibit B to the Securities Purchase Agreement (form of Registered Warrants) was deleted and replaced with an amended and restated the Form of Registered Warrant, to remove Section 2(b) Adjustment Upon Issuance of Common Stock and Section 2(e) Other Events.

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Source: SEC EDGAR

accession 0001213900-23-088350

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