BIMI Holdings Inc.: M&A transaction — BIMI issues 5M shares to Chairman after Phenix Bio earns $2.5M profit target in Q2 2023

BIMI Holdings Inc.

Phenix Bio achieved aggregate net profit of at least $2.5M in Q2 2023, triggering earnout shares.
5,000,000 common shares issued to Chairman Fnu Oudom on Dec 6, 2023 as earnout consideration.
Total acquisition price for Phenix: $180K cash plus 5.27M shares; additional 5M shares issued on milestone.
Transaction closed March 15, 2023; performance condition met in Q2 2023.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

BIMI Holdings Inc. completed an acquisition involving Fnu Oudom for $180,000 in cash plus 5,270,000 shares of the Company's common stock (closed 2023-03-15).

Action: acquisition
Counterparty: Fnu Oudom
Consideration: $180,000 in cash plus 5,270,000 shares of the Company's common stock
Closing: 2023-03-15

Exact text from the filing

the transaction closed effective March 15, 2023 when 100% of equity interests in Phenix were transferred to the Company and the closing consideration was paid. The aggregate purchase price for the equity interests in Phenix was $180,000 in cash, which has been paid, plus 5,270,000 shares of the Company’s common stock

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Source: SEC EDGAR

accession 0001213900-23-094557

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