Organic Agricultural Co Ltd: M&A transaction — Wu Zhiwei acquires 36.86% voting control of Organic Agricultural Co. Ltd.

Organic Agricultural Co Ltd

Wu Zhiwei now controls 34,180,800 shares, representing 36.86% of outstanding voting stock.
Control includes 9M shares via Heilongjiang Chuangyi Agriculture (60% owned); unpaid balance of ~$617k due Oct 16, 2024.
Purchased 15M shares from Hao Shuping on March 5 for 1.5M RMB ($211,208) cash.
Additional 10,180,800 shares from Hao Shuping subject to voting agreement with Wu Zhiwei.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.95

Organic Agricultural Co Ltd underwent a change of control involving Wu Zhiwei for Purchased 15,000,000 shares for 1,500,000 Renminbi ($211,208) cash, and obtained voting control over an additional 10,180,800 shares via a consensus action agre (closed 2024-03-05).

Action: change of control
Counterparty: Wu Zhiwei
Consideration: Purchased 15,000,000 shares for 1,500,000 Renminbi ($211,208) cash, and obtained voting control over an additional 10,180,800 shares via a consensus action agre
Closing: 2024-03-05

Exact text from the filing

purchase price and promised to pay the remainder of the purchase price no later than October 16, 2024. The source of the funds paid by Chuangyi has been its working capital. ● 15,000,000 shares purchased by Wu Zhiwei from Hao Shuping on March 5, 2024 for a purchase price of 1,500,000 Renminbi (U.S.$211,208) cash paid from Wu Zhiwei’s personal funds. ● 10,180,800

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Source: SEC EDGAR

accession 0001213900-24-021231

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