Vestand Inc. entered into Securities Purchase Agreement with Alumni Capital LP valued at up to an aggregate of $5,000,000 (effective 2024-01-05).
“On January 5, 2024, Yoshiharu Global Co. (the “Company”) entered into a securities purchase agreement (the “Securities Purchase Agreement”) with Alumni Capital LP, a Delaware limited partnership, an “accredited investor,” as defined in Rule 501(a) of Regulation D under the Securities Act of 1933, as amended (the “Securities Act”) (the “Investor”), which provides that, upon the terms and subject to the conditions and limitations set forth therein, the Company has the right, but not the obligation, to sell to the Investor, and the Investor is obligated to purchase, up to an aggregate of $5,000,000 in shares of the Company’s class A common stock, par value $0.0001 per share (“Common Stock”).”
Listing & Compliance Notices
Vestand Inc. received a nasdaq deficiency notice notice regarding other (rules 5550(a)(4)).
“December 1, 2023, Yoshiharu Global Co., a Delaware corporation (the “Company”), received a notification letter from the Nasdaq Listing Qualifications Staff of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that the Company no longer meets the minimum 500,000 publicly held shares requirement for continued listing on The Nasdaq Capital Market set forth in Nasdaq Listing Rule 5550(a)(4). The notification received has no immediate effect on the listing of the Company’s common stock on Nasdaq. Under Nasdaq Listing Rules, the Company has until January 16, 2024 to provide Nasdaq with a”
Material Agreements
Vestand Inc. entered into Asset Agreement with Mr. Jiyuck Hwang valued at $3.6 million (effective 2023-11-21).
“On November 21, 2023, Yoshiharu Global Co. (the “Company”) entered into an asset purchase agreement (the “Asset Agreement”) with Mr. Jiyuck Hwang, a restaurant operator (“Seller”) to acquire certain Las Vegas restaurant assets held by Jjanga LLC, HJH LLC and Ramen Aku LLC for an aggregate $3.6 million.”
Governance Changes
Vestand Inc.: Filed Certificate of Amendment to effect a 1-for-10 reverse stock split of Class A and Class B common stock, effective November 27, 2023 (effective 2023-11-27).
“On November 22, 2023, Yoshiharu Global Co. (the “Company”) filed a Certificate of Amendment (the “Certificate of Amendment”) to the Company’s Amended and Restated Certificate of Incorporation to effect a reverse stock split of its issued Class A common stock, par value $0.0001 per share (“Class A Common Stock”) and Class B common stock, par value $0.0001 per share (“Class B Common Stock” and, together with Class A common Stock, “Common Stock”), in the ratio of 1-for-10 (the “Reverse Stock Split”) to be effective at 11:59 p.m. eastern on November 27, 2023.”
Shareholder Votes
Vestand Inc. shareholders approved Approval of a reverse stock split of the Class A Common Stock and Class B Common Stock at a ratio of not more than 1-for-40, such ratio to be determined by the Board of Directors on or prior to December 31, 2023 at the 2023-11-20 meeting.
“The Company’s stockholders approved a reverse stock split of the Class A Common Stock and Class B Common Stock at a ratio of not more than 1-for-40, such ratio to be determined by the Board of Directors on or prior to December 31, 2023, in its sole discretion: Votes AGAINST Votes ABSTAINED BROKER NON-VOTES 17,484,450 176,228 112 —”
Shareholder Votes
Vestand Inc. shareholders approved Ratification of the appointment of BF Borgers CPA PC as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2024 at the 2023-11-20 meeting.
“The Company’s stockholders ratified the appointment of BF Borgers CPA PC as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2024, based upon the following votes: Votes AGAINST Votes ABSTAINED BROKER NON-VOTES 17,617,734 7,164 35,892 —”
Shareholder Votes
Vestand Inc. shareholders approved Election of Directors at the 2023-11-20 meeting.
“The Company’s stockholders elected James Chae, Jay Kim, Harinne Kim and Yusil Yeo to the Company’s Board of Directors, to hold office until the 2024 annual meeting of stockholders or until his or her successor shall have been duly elected or appointed and qualify, based upon the following votes: Nominee Votes WITHHELD James Chae 17,574,189 86,601 Jay Kim 17,573,568 87,222 Harinne Kim 17,599,684 61,106 Yusil Yeo 17,569,360 91,430”
Listing & Compliance Notices
Vestand Inc. received a nasdaq deficiency notice notice regarding minimum bid price (rules 5550(a)(2), 5810(c)(3)(A)).
“June 16, 2023, Yoshiharu Global Co., a Delaware corporation (the “Company”) received a notification letter from the Nasdaq Listing Qualifications Staff of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that the minimum bid price per share for its common stock has been below $1.00 for a period of 30 consecutive business days and the Company therefore no longer meets the minimum bid price requirements set forth in Nasdaq Listing Rule 5550(a)(2). The notification received has no immediate effect on the listing of the Company’s common stock on Nasdaq. Under Nasdaq Listing Rule 5810(c”
Harinne Kim was appointed as director at Vestand Inc..
“the Board appointed Ms. Harinne Kim as a director of the Company, effective immediately, to fill the vacancy created by Helen Lee’s resignation”
Helen Lee resigned as independent director at Vestand Inc..
“accepted independent director Helen Lee’s formal resignation, effective immediately.”
Facts are extracted by an LLM and gated to those whose source quote is present verbatim in the filing text. Coverage is best-effort while backfill and monitoring mature; this is not yet a full-market index. See methodology.