SECsense Logo

AIX Inc. Report: $1M Class B Share Issuance & Ownership Dynamics Explained

$AIFU
Form 6-K
Filed on: 2025-01-02
Source
AIX Inc. Report: $1M Class B Share Issuance & Ownership Dynamics Explained

Here are the key insights extracted from the financial report of AIX Inc. (Form 6-K):

  1. Issuance of Class B Ordinary Shares:
  • On December 30, 2024, AIX Inc. entered into share subscription agreements to issue Class B ordinary shares.
  • The agreements were with Highest Performances Holdings Inc. (HPH) and Infinew Limited.
  • A total of 1 billion Class B ordinary shares were issued: 510 million to HPH and 490 million to Infinew.
  • The price per share was US$0.001, resulting in total gross proceeds of US$1,000,000.
  1. Use of Proceeds:
  • The proceeds from the share issuance will be used for general working capital purposes.
  1. Ownership Structure Post-Issuance:
  • HPH owns 591,600,788 Class A ordinary shares and 510,000,000 Class B ordinary shares, representing 51.67% of total ordinary shares and 51.01% of the voting power.
  • Infinew owns 100,000 Class A ordinary shares and 490,000,000 Class B ordinary shares, representing 22.99% of total ordinary shares and 48.45% of the voting power.
  1. Voting Rights:
  • Class A shares have one vote per share.
  • Class B shares have 100 votes per share, giving significant voting power to holders of Class B shares.
  1. Conversion Rights:
  • Class B shares can be converted to Class A shares at the holder's option, subject to board approval.
  • Class A shares cannot be converted to Class B shares under any circumstances.
  • Class B shares will automatically convert to Class A shares under specific conditions (e.g., termination of employment for employees, resignation of directors).
  1. Limitations on Class B Shares:
  • Class B shares do not confer rights to dividends or distributions and cannot be transferred or used as collateral.
  1. Filing Details:
  • The share subscription agreements are filed as Exhibit 10.1 and Exhibit 10.2 to this Current Report on Form 6-K.
  1. Company Information:
  • AIX Inc. is located in Guangzhou, China.
  • The report was signed by Yinan Hu, Chief Executive Officer, on January 2, 2025.

This analysis highlights the significant share issuance and its implications for control and ownership within AIX Inc., as well as the financial aspects of the transaction.