Bio Essence Corp. sells subsidiary Bio Essence Herbal Essentials to Health Up Inc. for $400k

Bio Essence Corp

Sold wholly-owned subsidiary Bio Essence Herbal Essentials Inc. (BEP) to Health Up Inc. for $400,000 cash.
Stock Purchase Agreement executed March 28, 2024; transaction closed April 1, 2024.
Board of Directors approved sale via unanimous consent resolution on March 28, 2024.
No material relationship exists between the Company and buyer Health Up Inc.

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

Bio Essence Corp entered into Stock Purchase Agreement with Health Up, Inc. valued at Four Hundred Thousand Dollars ($400,000) (effective 2024-03-28).

Action: entry
Agreement: asset purchase
Counterparty: Health Up, Inc.
Value: Four Hundred Thousand Dollars ($400,000)
Effective: 2024-03-28

Exact text from the filing

On March 28, 2024, Bio Essence Corp., a California corporation (“Company”) entered into a Stock Purchase Agreement (“SPA”) with Health Up, Inc., a California corporation (“HUI”) whereby the Company agreed to sell to HUI its wholly owned subsidiary, Bio Essence Herbal Essentials, Inc. d/b/a Bio Essence Health Science, a California corporation (“BEP”), in exchange for cash consideration in the amount of Four Hundred Thousand Dollars ($400,000).

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Bio Essence Corp filing history →

Source: SEC EDGAR

accession 0001213900-24-030435

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