WeTrade Board terminates $12M subscription, Bitcoin purchase; appoints two independent directors

Next Technology Holding Inc.

Board terminated two Subscription Agreements (Sept 13 and Sept 25, 2023) initiated by former directors/officers for $12M and 6,000 Bitcoin at $30K/coin.
Appointed Ting Li and Lihui Zhang as independent directors; Zhang named Audit Committee chair.
Removed Hechun Wei as sole director of subsidiary WeTrade Bit; appointed Jianshuang Wang as sole director, CEO, CFO, and President.
Terminated agreements had been unauthorized announcements; board reasserts control over capital allocation.

item 1.02 item 5.02 item 8.01 item 9.01

Executive movements

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Appointed

Lihui Zhang

Independent Director and Chair of Audit Committee

NXTT · Next Technology Holding Inc.

Effective: 2023-10-02
Filed: October 10, 2023, 7:59 PM ET

and Lihui Zhang as an independent director of the Board of the Company and the chair of the Audit Committee.

Appointed

Ting Li

Independent Director

NXTT · Next Technology Holding Inc.

Effective: 2023-10-02
Filed: October 10, 2023, 7:59 PM ET

On October 2, 2023, the Board of Directors of the Company appointed Ting Li as an independent director of the Board of the Company

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Lihui Zhang was appointed as Independent Director and Chair of Audit Committee at Next Technology Holding Inc..

Action: appointed
Role: Independent Director and Chair of Audit Committee

Exact text from the filing

and Lihui Zhang as an independent director of the Board of the Company and the chair of the Audit Committee.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Ting Li was appointed as Independent Director at Next Technology Holding Inc..

Action: appointed
Role: Independent Director

Exact text from the filing

On October 2, 2023, the Board of Directors of the Company appointed Ting Li as an independent director of the Board of the Company

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Next Technology Holding Inc. terminated Subscription Agreements with Regulation S investors valued at $12 million (effective 2023-10-02).

Action: termination
Agreement: equity purchase
Counterparty: Regulation S investors
Value: $12 million
Effective: 2023-10-02

Exact text from the filing

On October 2, 2023, the Board terminated the Subscription Agreements dated as of September 13, 2023 and the Subscription Agreement dated as of September 25, 2023.

View on SEC.gov

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

Next Technology Holding Inc. filing history →

Source: SEC EDGAR

accession 0001493152-23-036750

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