8-K
filed November 25, 2024, 6:59 PM ET
ticker YYAI
CIK 0001674440
M&A
confidence high
sentiment neutral
materiality 1.00
AIRWA INC. (YYAI): M&A transaction — Connexa Sports completes acquisition of 70% of Yuanyu for $56M; controlling owner gets 55.8% stake
AIRWA INC.
- Acquired 70% of Yuanyu Enterprise Management for $56M; $16.5M cash paid Mar 2024, 8,127,572 shares issued Nov 21, 2024.
- Change of control: Hongyu Zhou becomes beneficial owner of ~55.8% of Connexa common stock; all prior directors and officers resigned.
- New board and officers appointed: CEO Thomas Tarala, CFO Guibao Ji, and directors Zhou, Thomson, C. Liu, K. Liu.
- Legacy Slinger Bag business sold to NewCo for $1.00; NewCo owned by former executives Ballardie, Kalfa, Honickman, Radom.
- Company will change name to Yuanyu, Inc. by end of 2024; stock symbol YYAI remains.
Key facts
Extracted from this filing and checked against the source text.
Executive change
SEC 8-K Item 5.02
confidence 0.85
Warren Thomson was appointed as Director at AIRWA INC..
- Action
- appointed
- Role
- Director
Exact text from the filing
Warren Thomson 48 Director
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Juda Honickman resigned as Executive Officer at AIRWA INC..
- Action
- resigned
- Role
- Executive Officer
Exact text from the filing
all of the executive officers of the Company, namely, Mike Ballardie, Juda Honickman, Mark Radom, and Yonah Kalfa, resigned from their respective positions with the Company, effective immediately.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.85
Chenlong Liu was appointed as Director at AIRWA INC..
- Action
- appointed
- Role
- Director
Exact text from the filing
Chenlong Liu 35 Director
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.85
Hongyu Zhou was appointed as Director at AIRWA INC..
- Action
- appointed
- Role
- Director
Exact text from the filing
Hongyu Zhou 36 Director
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Stephen Crummey resigned as Director at AIRWA INC..
- Action
- resigned
- Role
- Director
Exact text from the filing
all of the directors of the Company, namely, Mike Ballardie, Yonah Kalfa, Kirk Taylor, Stephen Crummey, and Rodney Rapson, resigned from the Board of Directors
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Yonah Kalfa resigned as Executive Officer and Director at AIRWA INC..
- Action
- resigned
- Role
- Executive Officer and Director
Exact text from the filing
all of the executive officers of the Company, namely, Mike Ballardie, Juda Honickman, Mark Radom, and Yonah Kalfa, resigned from their respective positions with the Company, effective immediately.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Rodney Rapson resigned as Director at AIRWA INC..
- Action
- resigned
- Role
- Director
Exact text from the filing
all of the directors of the Company, namely, Mike Ballardie, Yonah Kalfa, Kirk Taylor, Stephen Crummey, and Rodney Rapson, resigned from the Board of Directors
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.8
Guibao Ji was appointed as Chief Financial Officer at AIRWA INC..
- Action
- appointed
- Role
- Chief Financial Officer
Exact text from the filing
Guibao Ji 60 Chief Financial Officer
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Thomas Tarala was appointed as Chief Executive Officer and Director at AIRWA INC..
- Action
- appointed
- Role
- Chief Executive Officer and Director
Exact text from the filing
Thomas Tarala 58 Chief Executive Officer and Director
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Kirk Taylor resigned as Director at AIRWA INC..
- Action
- resigned
- Role
- Director
Exact text from the filing
all of the directors of the Company, namely, Mike Ballardie, Yonah Kalfa, Kirk Taylor, Stephen Crummey, and Rodney Rapson, resigned from the Board of Directors
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Mark Radom resigned as Executive Officer at AIRWA INC..
- Action
- resigned
- Role
- Executive Officer
Exact text from the filing
all of the executive officers of the Company, namely, Mike Ballardie, Juda Honickman, Mark Radom, and Yonah Kalfa, resigned from their respective positions with the Company, effective immediately.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Mike Ballardie resigned as Executive Officer and Director at AIRWA INC..
- Action
- resigned
- Role
- Executive Officer and Director
Exact text from the filing
all of the executive officers of the Company, namely, Mike Ballardie, Juda Honickman, Mark Radom, and Yonah Kalfa, resigned from their respective positions with the Company, effective immediately.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.85
Kong Liu was appointed as Director at AIRWA INC..
- Action
- appointed
- Role
- Director
Exact text from the filing
Kong Liu 35 Director
View on SEC.gov
M&A Transactions
SEC 8-K Item 2.01/5.01
confidence 0.9
AIRWA INC. completed a disposition involving J&M Sports LLC for $1.00 (closed 2024-11-21).
- Action
- disposition
- Counterparty
- J&M Sports LLC
- Consideration
- $1.00
- Closing
- 2024-11-21
Exact text from the filing
on November 21, 2024, the Company entered into a separation and assignment agreement (the “ Separation Agreement ”) with J&M Sports LLC, a Florida limited liability company (“ NewCo ”), to sell, transfer and assign all or substantially all of its legacy business, assets and liabilities related to or necessary for the operations of its “Slinger Bag” business or products (the “ Legacy Business ”) to NewCo, in consideration for $1.00.
View on SEC.gov
M&A Transactions
SEC 8-K Item 2.01/5.01
confidence 0.9
AIRWA INC. underwent a change of control involving Mr. Hongyu Zhou (closed 2024-11-21).
- Action
- change of control
- Counterparty
- Mr. Hongyu Zhou
- Closing
- 2024-11-21
Exact text from the filing
As a result of the closing of the Transaction, a change of control of the Company occurred as the Seller became the owner of approximately 55.8% of the issued and outstanding shares of Common Stock and the board of directors of the Company (the “ Board of Directors ”) currently comprises individuals designated by the Seller.
View on SEC.gov
M&A Transactions
SEC 8-K Item 2.01/5.01
confidence 0.9
AIRWA INC. completed an acquisition involving Mr. Hongyu Zhou for $56 million (closed 2024-11-21).
- Action
- acquisition
- Counterparty
- Mr. Hongyu Zhou
- Consideration
- $56 million
- Closing
- 2024-11-21
Exact text from the filing
Agreements ”) to acquire a total of 70% of the issued and outstanding ordinary shares of YYEM from the sole shareholder of YYEM, Mr. Hongyu Zhou (the “ Seller ”), for a combined $56 million. $16.5 million of this amount was paid in cash on March 20, 2024 pursuant to the Share Purchase Agreement to acquire 20% of YYEM. On November 18, 2024, The Nasdaq Stock Market
View on SEC.gov
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.