other material
confidence high
sentiment neutral
materiality 0.50
Origin Tea closes Reg S private placement: 290,000 shares at RMB 40, RMB 11.6M from 115 non-U.S. buyers
BRILLIANT N.E.V. CORP.
- 115 offshore purchasers: 114 each subscribed 2,500 shares for RMB 100,000; one bought 5,000 shares for RMB 200,000; total 290,000 shares for RMB 11,600,000.
- Price fixed at RMB 40.00 per share; stated offering price US$6.00 per share under an authorized program of up to 500,000 shares.
- Funds were sent by Aug 31, 2026 to Hainan Baisha Yuanwu Yayun Tea Co., the indirect wholly owned PRC subsidiary acting as RMB collection agent; company accepted and closed Nov 4, 2026.
- Company must promptly prepare and file an S-1 resale registration statement for the shares and use commercially reasonable efforts to keep it effective.
- Shares are restricted Category 3 equity; Reg S distribution compliance period expected through May 4, 2027, and the agreement flags prior shell-company status and Rule 144(i) resale limits.