InvestmentMay 19, 2026, 04:17 PM
Haoxi Health CEO Zhen Fan Buys 40M Class B Shares for $720K
AI Summary
Haoxi Health Technology Ltd entered into a Securities Purchase Agreement with its CEO and Chairman, Mr. Zhen Fan, for the sale of 40,000,000 Class B ordinary shares. The shares were sold at US$0.018 each, totaling US$720,000, which is a premium of 101.12% over the Class A closing price. The company plans to use the net proceeds for working capital and general corporate purposes. The transaction, a related-party deal, was reviewed and approved by the audit committee, which deemed it fair and reasonable.
Key Highlights
- Haoxi Health Technology sold 40,000,000 Class B ordinary shares to CEO Zhen Fan.
- The purchase price was US$0.018 per share, totaling US$720,000.
- The price per share represents approximately 101.12% of the Class A closing price on May 18, 2026.
- Net proceeds will be used for working capital and general corporate purposes.
- The transaction was approved by the audit committee of the Board.
- Post-closing, CEO Zhen Fan will beneficially own 40,690,800 Class B shares.
- This represents approximately 83.83% of the Company's aggregate voting power.
Price Impact
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