---
schema_version: "secwatch.filing_event.v1"
accession: "0001683168-25-008142"
form_type: "8-K"
ticker: "YHNA"
cik: "0002020987"
company_name: "YHN Acquisition I Ltd"
filed_at: "2025-11-10T23:59:59+00:00"
generated_at: "2026-05-16T22:42:22.883311+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# YHN Acquisition I amends Mingde deal; base consideration cut to $200M, earnout now share-price-based

## Summary
- Base consideration cut to $200M (20M shares at $10) + up to $80M earnout (8M shares) tied to share price.
- Earnout milestones: share price ≥$15, $20, $25 for 60 consecutive trading days over 3 years post-closing.
- Holdback shares cut to 1M (was ~1.63M); closing shares now 19M (was ~30.97M).
- Amendment eliminates prior revenue-based earnout targets tied to FY2026 and FY2027 revenue milestones.
- Largest shareholder Following Wind Limited holds 58%, receives 11.02M closing shares and 580K holdback.

## SEC filing metadata
- accession: 0001683168-25-008142
- form_type: 8-K
- ticker: YHNA
- cik: 0002020987
- company_name: YHN Acquisition I Ltd
- filed_at: 2025-11-10T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/2020987/000168316825008142/0001683168-25-008142-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/2020987/000168316825008142/yhna_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001683168-25-008142
- JSON: https://secwatch.observer/filing/0001683168-25-008142.json
- Plain text: https://secwatch.observer/filing/0001683168-25-008142.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.