SEII enters deal with Light Across: $1M note purchase, EV asset acquisition, control change

SHARING ECONOMY INTERNATIONAL INC.

Light Across will purchase a $1M convertible promissory note from SEII, with closing subject to approvals.
SEII will acquire Light Across's EV assets including intellectual property and product know-how.
Light Across gains controlling majority of SEII board and operational control effective upon signing.
Light Across CEO Dr. Ximing Huang, former Bordrin founder, to lead combined public entity.
SEII must clear existing debts by issuing shares to borrowers prior to transaction closing.

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

SHARING ECONOMY INTERNATIONAL INC. entered into Memorandum of Agreement with Light Across, Inc. valued at US$1,000,000 (effective 2025-12-10).

Action: entry
Agreement: asset purchase
Counterparty: Light Across, Inc.
Value: US$1,000,000
Effective: 2025-12-10

Exact text from the filing

On December 10, 2025, Sharing Economy International Inc. (“SEII”, the “Company”), And Light Across, Inc. (“Light Across”) entered into a Memorandum of Agreement (the “Agreement”), whereby the two companies entered into the plan for Light Across to purchase SEII’s convertible promissory note(s) (the “Notes”) in the total amount of US$1,000,000.

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Source: SEC EDGAR

accession 0001213900-25-122168

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