China Health Industries Holdings, Inc.: M&A transaction — China Health Industries closes acquisition of HempCan for ~$40.9M

China Health Industries Holdings, Inc.

Closed acquisition of 100% of Heilongjiang HempCan Pharmaceuticals on Dec 1, 2023.
Total cash consideration of RMB295M (~$40.9M) paid to sellers Xin Sun and Kai Sun.
Transaction was previously announced in Form 8-K filed July 3, 2023.
Humankind, a wholly owned subsidiary, is the acquiring entity.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 1.0

China Health Industries Holdings, Inc. completed an acquisition involving Mr. Xin Sun and Mr. Kai Sun for RMB295 million (approximately $40,916,530) (closed 2023-12-01).

Action: acquisition
Counterparty: Mr. Xin Sun and Mr. Kai Sun
Consideration: RMB295 million (approximately $40,916,530)
Closing: 2023-12-01

Exact text from the filing

and the changes of business registration have been completed. As the consideration for the Acquisition, the Company paid the Sellers an aggregate cash consideration of RMB295 million (approximately $40,916,530) in exchange for 100% equity ownership of HempCan. The English translation of the Agreements are filed herein as Exhibit 10.1 and Exhibit 10.2 and

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Source: SEC EDGAR

accession 0001213900-23-092414

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