8-K
filed May 10, 2024, 7:59 PM ET
CIK 0001672572
M&A
confidence high
sentiment neutral
materiality 0.85
Landbay Inc: M&A transaction — Change in control: Chunyang Liu acquires 97.9% of Landbay Inc Class A common stock; new management appointed
Landbay Inc
- Purchaser Chunyang Liu acquired 29,383,700 shares (97.9% of outstanding Class A common stock) from Northern Ifurniture Inc.
- All previous directors and officers resigned; new board and officers appointed effective April 23/May 4, 2024.
- New CEO/Chairman: Chunyang Liu; CFO: Lidong Wang; Secretary: Wenfang Lu.
- New directors are Liu, Wang, and Lu; backgrounds in logistics, e-commerce, and AI livestream.
- No compensatory arrangements or employee benefit plans currently in place.
Key facts
Extracted from this filing and checked against the source text.
Executive change
SEC 8-K Item 5.02
confidence 1.0
Wenfang Lu was appointed as Secretary at Landbay Inc.
- Action
- appointed
- Role
- Secretary
Exact text from the filing
Mr. Lu as Secretary
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 1.0
Wenfang Lu was appointed as Director at Landbay Inc.
- Action
- appointed
- Role
- Director
Exact text from the filing
the Board appointed Chunyang Liu, Lidong Wang and Wenfang Lu to fill vacancies on the Company’s Board of Directors
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 1.0
Chunyang Liu was appointed as Director at Landbay Inc.
- Action
- appointed
- Role
- Director
Exact text from the filing
the Board appointed Chunyang Liu, Lidong Wang and Wenfang Lu to fill vacancies on the Company’s Board of Directors
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 1.0
Chunyang Liu was appointed as President and Chief Executive Officer at Landbay Inc.
- Action
- appointed
- Role
- President and Chief Executive Officer
Exact text from the filing
the Board appointed Mr. Liu as President/CEO
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 1.0
Xiaowei Jin resigned as Director at Landbay Inc.
- Action
- resigned
- Role
- Director
Exact text from the filing
the Board appointed Chunyang Liu, Lidong Wang and Wenfang Lu to fill vacancies on the Company’s Board of Directors caused by the resignation of Ms. Xiaowei Jin
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 1.0
Lidong Wang was appointed as Chief Financial Officer at Landbay Inc.
- Action
- appointed
- Role
- Chief Financial Officer
Exact text from the filing
Mr. Wang as CFO
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 1.0
Lidong Wang was appointed as Director at Landbay Inc.
- Action
- appointed
- Role
- Director
Exact text from the filing
the Board appointed Chunyang Liu, Lidong Wang and Wenfang Lu to fill vacancies on the Company’s Board of Directors
View on SEC.gov
M&A Transactions
SEC 8-K Item 2.01/5.01
confidence 0.9
Landbay Inc underwent a change of control involving Chunyang Liu (Purchaser) and Northern Ifurniture Inc (Seller) (closed 2024-04-23).
- Action
- change of control
- Counterparty
- Chunyang Liu (Purchaser) and Northern Ifurniture Inc (Seller)
- Closing
- 2024-04-23
Exact text from the filing
As the Company reported on Schedule 14F-1 filed with the Securities and Exchange Commission (“SEC”) on April 23, 2024 (the “Closing Date”), and effective on May 4, 2024 (the “Effective Date”), Northern Ifurniture Inc (the “Seller”) and Chunyang Liu (the “Purchaser”) entered into a Stock Purchase Agreement (the “SPA”) dated March 25, 2024. Pursuant to the SPA, among other provisions, the Seller agreed to sell to the Purchaser, and the Purchaser agreed to purchase from the Seller a total of 29,383,700 shares of Class A Common Stock of the Company held in the name of the Seller (the “Purchased Shares”).
View on SEC.gov
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