secwatch.observer — SEC 8-K summary
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Issuer:     Kuber Resources Corp (KUBR)
CIK:        0001081834
Form:       8-K
Filed at:   2024-10-15T23:59:59+00:00
Accession:  0001214659-24-017547
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Kuber Resources acquires Gongfa Materials for ~$130M in stock; related-party transaction
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- Acquires 100% of Gongfa (engineered wood) for ~$130M in Kuber stock at $4.80/share; closing expected Q4 2024.
- New shares equal ~20% of Kuber's outstanding (26.5M shares); total shares post-issuance 159.1M.
- Gongfa shareholders become Storming Dragon shareholders via concurrent exchange agreement; Storming Dragon to hold 67.66% of Kuber.
- Director Li Jiyong (28.14% of Gongfa) will own 19.04% of Kuber post-issuance; CEO Raymond Fu remains controlling.
- Valuation report due within 14-45 days; share issuance 45+ days after report, subject to board approvals.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1081834/000121465924017547/0001214659-24-017547-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1081834/000121465924017547/y10152408k.htm
  HTML page:      https://secwatch.observer/filing/0001214659-24-017547

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