---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-24-003556"
form_type: "8-K"
ticker: "YYAI"
cik: "0001674440"
company_name: "AIRWA INC."
filed_at: "2024-01-24T23:59:59+00:00"
generated_at: "2026-06-06T19:18:43.832226+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# Connexa Sports Technologies raises $16.5M via common stock and pre-funded warrants; change of control to three investors

## Summary
- Issued 2,330,200 common shares and pre-funded warrants for 25,169,800 shares at $0.20/share, raising ~$16.5M.
- Each of three investors (Andy and Lion, Junjie Enterprise, Xinsheng Enterprise) invested $5.5M and now hold 19.99% of outstanding common stock plus additional warrants.
- Pre-funded warrants have $0.00001 exercise price and require shareholder approval for exercisability.
- Change of control: largest prior holder had 2.032% ownership; now control rests with the three investors.
- Also awarded 200,000 shares to Smartsports LLC for consulting services.

## SEC filing metadata
- accession: 0001493152-24-003556
- form_type: 8-K
- ticker: YYAI
- cik: 0001674440
- company_name: AIRWA INC.
- filed_at: 2024-01-24T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 1.01, 3.02, 5.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1674440/000149315224003556/0001493152-24-003556-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1674440/000149315224003556/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-24-003556
- JSON: https://secwatch.observer/filing/0001493152-24-003556.json
- Plain text: https://secwatch.observer/filing/0001493152-24-003556.txt

## Key facts
- M&A Transactions
  AIRWA INC. underwent a change of control involving Andy and Lion Co., Ltd., Junjie Enterprise Management Co., Limited, Xinsheng Enterprise Management Services Co., Ltd. for $5.5 million.
  - Action: change of control
  - Counterparty: Andy and Lion Co., Ltd., Junjie Enterprise Management Co., Limited, Xinsheng Enterprise Management Services Co., Ltd.
  - Consideration: $5.5 million
  source text: As a result of the transactions contemplated by the Securities Purchase Agreements and the issuance of the Shares and Pre-Funded Warrants, control of the company now rests with each of (i) Andy and Lion Co., Ltd., (ii) Junjie Enterprise Management Co., Limited and (iii) Xinsheng Enterprise Management Services Co., Ltd. (each an “ Investor ” and, together, the “ Investors ”), each of whom acquired for a cash investment of $5.5 million (i) 19.99% of the Company’s issued and outstanding shares of the Company’s common stock and (ii) warrants to purchase an additional 25,169,800 shares of the Company’s common stock.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1674440/000149315224003556/0001493152-24-003556-index.htm
- Material Agreements
  AIRWA INC. entered into Securities Purchase Agreement with three investors valued at $0.20 per share of the common stock for an aggregate amount of approximately $16.5 million (effective 2024-01-19).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: three investors
  - Value: $0.20 per share of the common stock for an aggregate amount of approximately $16.5 million
  - Effective: 2024-01-19
  source text: Connexa Sports Technologies Inc. (the " Company ") entered into securities purchase agreements (the " Securities Purchase Agreement ") with three investors (the " Investors ") for the issuance and sale to each investor of (i) 2,330,200 shares of common stock (the " Common Stock Shares ") and (ii) pre-funded warrants (the " Pre-Funded Warrants ") to purchase an aggregate of 25,169,800 shares of its common stock (the " Pre-funded Warrant Shares ", together with the Common Stock Shares, the " Shares ") at a combined purchase price of $0.20 per share of the common stock for an aggregate amount of approximately $16.5 million
  evidence_url: https://www.sec.gov/Archives/edgar/data/1674440/000149315224003556/0001493152-24-003556-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.