secwatch.observer — SEC 8-K summary
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Issuer:     AIRWA INC. (YYAI)
CIK:        0001674440
Form:       8-K
Filed at:   2024-11-25T23:59:59+00:00
Accession:  0001493152-24-047624
Event type: m_and_a
Sentiment:  neutral
Materiality: 1.00
Item codes: 1.01, 2.01, 5.02, 3.02, 5.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Connexa Sports completes acquisition of 70% of Yuanyu for $56M; controlling owner gets 55.8% stake
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1674440/000149315224047624/0001493152-24-047624-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1674440/000149315224047624/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-047624

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer