AcquisitionsAug 3, 2026, 05:19 PM
Sharing Economy Intl. Acquires Light Across, Issues 5B Shares
AI Summary
On August 2, 2026, Sharing Economy International Inc. (SEII) entered into a Share Exchange Agreement to acquire Light Across, Inc. SEII issued 4,998,838,436 shares of common stock to Light Across stockholders, resulting in them owning 80% of SEII's outstanding shares. Light Across, an electric vehicle (EV) engineering company, will become SEII's principal business. The transaction is accounted for as a reverse recapitalization, with Light Across as the accounting acquirer. Light Across has reported significant net losses and has going concern uncertainties.
Key Highlights
- Sharing Economy International Inc. acquired Light Across Inc. via a Share Exchange Agreement on August 2, 2026.
- SEII issued 4,998,838,436 shares of common stock to Light Across stockholders.
- Light Across stockholders now own 80% of SEII's issued and outstanding common stock.
- Ximing Huang, CEO, acquired approximately 65.6% beneficial ownership of SEII post-acquisition.
- Johnny Chen, CFO, acquired approximately 11.5% beneficial ownership of SEII post-acquisition.
- Light Across's principal business is electric vehicle (EV) engineering.
- The transaction is accounted for as a reverse recapitalization.
- Light Across reported net losses of $320,690 in 2025 and has going concern uncertainties.
Price Impact