SEATech Ventures acquires Just Supply Chain for $17.5M in stock

SEATech Ventures Corp.

Acquires 100% of Just Supply Chain Ltd (JSCL), an online logistics booking platform in Malaysia.
Consideration: 21,831,660 restricted shares at $0.80/sh, aggregate value $17,465,328 (MYR78M).
Key employees (CEO, Sales & Marketing Dir, CFO) must remain for 2 years post-closing.
Sellers warrant full PCAOB audit, sufficient working capital, and independent Crowe Advisory valuation.
Shares held in escrow until closing; financials to be filed within 71 days.

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

SEATech Ventures Corp. entered into Acquisition Agreement with Lee Wai Mun, Tai Kau @ Tai Fah Chong, Wong Tien Erl, Lee Han Cien, Lee Wai Chun, Eik Chu Yew, Wong Po Leng and Tok Kai Weei valued at $17,465,328 (effective 2023-07-12).

Action: entry
Agreement: asset purchase
Counterparty: Lee Wai Mun, Tai Kau @ Tai Fah Chong, Wong Tien Erl, Lee Han Cien, Lee Wai Chun, Eik Chu Yew, Wong Po Leng and Tok Kai Weei
Value: $17,465,328
Effective: 2023-07-12

Exact text from the filing

On July 12, 2023 SEATech Ventures Corp. (the “Company”) entered into an acquisition agreement (the “Agreement”) with Lee Wai Mun, Tai Kau @ Tai Fah Chong, Wong Tien Erl, Lee Han Cien, Lee Wai Chun, Eik Chu Yew, Wong Po Leng and Tok Kai Weei (the “ Vendors ”) , shareholders of Just Supply Chain Limited (“ JSCL ”) . Pursuant to the Agreement, the Vendors have agreed to sell to the Company an 100% equity stake in JSCL in consideration of a new issuance of 21,831,660 restricted shares of the Company’s common stock at $0.80 per share . The consideration was derived from an agreed valuation of JSCL at $17,465,328.

View on SEC.gov

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

SEATech Ventures Corp. filing history →

Source: SEC EDGAR

accession 0001493152-23-024544

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.