Vivic Corp. converts $1.1M debt into 1.1M common shares at $0.99/share

VIVIC CORP.

Converted $1,100,000 debt owed to Yun-Kuang Kung into 1,111,111 shares of common stock at $0.99 per share.
Shares issued in reliance on Regulation D/S exemptions; Kung is accredited non-US investor.
Reduces debt by $1.1M but increases share count by 1.1M, causing shareholder dilution.
Transaction closed May 26, 2023; no other material terms disclosed.

item 1.01 item 3.02 item 9.01

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

VIVIC CORP. entered into Debt Conversion Agreement with Yun-Kuang Kung valued at $1,100,000 (effective 2023-05-26).

Action: entry
Counterparty: Yun-Kuang Kung
Value: $1,100,000
Effective: 2023-05-26

Exact text from the filing

On May 26, 2023, Vivic Corp. (the “Company”) entered into a Debt Conversion Agreement (the “Conversion Agreement”) with Yun-Kuang Kung (“Kung”).

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235 material agreements filed in the last 30 days. Browse all material agreements →

VIVIC CORP. filing history →

Source: SEC EDGAR

accession 0001493152-23-019472

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