Item 3.02 Unregistered Sales of Equity Securities
As disclosed on China HGS Real Estate Inc.'s (the "Company") Current Report on
Form 8-K filed on December 20, 2021, the Company entered into a certain
securities purchase agreement (the "SPA") with certain purchasers whom are
"non-U.S. Persons" (the "Investors") as defined in Regulation S of the
Securities Act, pursuant to which the Company agreed to sell an aggregate of
10,247,122 units (the "Units"), each Unit consisting of one share of common
stock, par value $0.001 per share ("Common Stock") and a warrant to purchase
three shares of Common Stock (the "Warrant") with an initial exercise price of
$2.375 at a price of $2.375 per Unit, for an aggregate purchase price of
approximately $24.3 million (the "Offering").
On January 14, 2022, the transaction contemplated by the SPA closed.
The issuance and sale of the Units is exempted from the registration requirement
of the Securities Act of 1933, as amended pursuant to Regulation S promulgated
thereunder.
© Edgar Online, source Glimpses