China Green Agriculture acquires bitcoin miner Lonestar Dream from co-CEO for $49M

Enlightify Inc.

Total consideration $49M: $2.45M due at closing, $44.1M after 90 business days post-closing conditions, $2.45M upon audited FY2023 financials.
Target Lonestar Dream operates Bitcoin mining sites in Pecos County and Ward County, Texas with total capacity of 100 MW.
Seller Zhibiao Pan is co-CEO of China Green Agriculture and sole shareholder of Lonestar Dream, making this a related-party transaction.
Purchase includes all outstanding stock of Lonestar Dream and its 80%-owned subsidiary Lonestar Taproot, LLC.
Closing requires delivery of share certificates, corporate documents, and a non-foreign person certificate among other conditions.

item 1.01 item 2.03 item 9.01

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

Enlightify Inc. entered into Stock Purchase Agreement with Zhibiao Pan valued at $49,000,000 (effective 2023-12-27).

Action: entry
Agreement: equity purchase
Counterparty: Zhibiao Pan
Value: $49,000,000
Effective: 2023-12-27

Exact text from the filing

On December 27, 2023, China Green Agriculture, Inc. (the “Company”) entered into a Stock Purchase Agreement with Zhibiao Pan (the “Stock Purchase Agreement”) for the purchase by the Company from Zhibiao Pan of all of the outstanding stock of Lonestar Dream, Inc.

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Source: SEC EDGAR

accession 0001213900-23-099289

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