other material
confidence high
sentiment neutral
materiality 0.55
CETY buys HK$11.7M convertible bond portion of China Ruifeng (527.HK) for $700K cash + 1.93M shares
Clean Energy Technologies, Inc.
- Acquired HK$11,700,000 principal amount of a convertible bond issued by China Ruifeng Renewable Energy Holdings (527.HK) from Filled Converge Limited and Li Xiaoguang.
- Total purchase price: US$700,000 cash (in HK$ equivalent) plus 1,932,000 shares of CETY common stock at $0.4163/share.
- $500,000 cash payable at closing; $200,000 within 30 days. Shares issued as unregistered securities under Section 4(a)(2) and Rule 506(b).
- The bond is a convertible bond originally in principal amount of HK$356,375,000; CETY acquires only the HK$11.7M portion.
- Closing subject to customary conditions; company (China Ruifeng) consented to the transaction.