Jingbo Technology, Inc. (SVMB): M&A transaction — Jingbo Technology completes acquisition of Xinghe, issues 550M shares; Hangdu becomes ~99% owner

Jingbo Technology, Inc.

Issued 550M common shares to Hangdu for all Xinghe shares; Hangdu now holds approximately 99.0% of Jingbo.
Pre-acquisition debt of $22,032,891 owed to Shaoxing Keqiao extinguished post-closing.
Acquired VIE structure controls Shaoxing Keqiao, specializing in intelligent parking in Zhejiang, China.
Xinghe audited financials show zero revenue for FY 2024 and FY 2023; $22.3M assets largely due from related parties.

item 1.01 item 2.01 item 3.02 item 5.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Jingbo Technology, Inc. completed an acquisition involving Hangdu Technology Limited for 550,000,000 shares of Common Stock (closed 2024-12-09).

Action: acquisition
Counterparty: Hangdu Technology Limited
Consideration: 550,000,000 shares of Common Stock
Closing: 2024-12-09

Exact text from the filing

and Hangdu Technology Limited, a British Virgin Islands company and the sole shareholder of Xinghe (“Hangdu”). Pursuant to the Share Exchange Agreement, the Company will issue 550,000,000 shares of common stock, par value $0.001 per share (the “Common Stock”) of the Company to Hangdu, in consideration for the acquisition of all the issued and outstanding shares in

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Jingbo Technology, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-24-049819

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