Merion, Inc.: M&A transaction — Merion Chairman/CEO sells 53.181% controlling stake to Ronnie Shi

Merion, Inc.

Dinghua Wang sold all his shares (53.181% of outstanding) to Ronnie Yin Kit Shi on Feb 8, 2024.
Purchase price is a promissory note repayable with either the shares or 5% of post-merger consolidated company with a private entity.
Management control will transfer to Shi's appointees and nominees after the share transfer.
No known arrangements exist that may later result in another change of control.

item 5.01

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Merion, Inc. underwent a change of control involving Ronnie Yin Kit Shi (closed 2024-02-08).

Action: change of control
Counterparty: Ronnie Yin Kit Shi
Closing: 2024-02-08

Exact text from the filing

On February 8, 2024, Mr. Dinghua Wang, Chairman of the Board and Chief Executive Office of Merion, Inc. (the "Company") entered into a Control Block Purchase Agreement with Mr. Ronnie Yin Kit Shi, a Canadian citizen, to sell all of the shares of common stock of the Company that he beneficially owns (the "Shares") to Mr. Shi, which represents approximately 53.181% of total outstanding shares of the Company.

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Source: SEC EDGAR

accession 0001477932-24-000733

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