BIMI International Medical Inc. (NasdaqCM:BIMI) agreed to acquire Phenix Bio Inc. from Fnu Oudom for $2 million on July 5, 2022. The consideration consists of cash $180,000 as partial consideration. The balance of the purchase price in the amount of $1,620,000 will be paid by the Company in the form of 2,700,000 shares of the BIMI International Medical Inc.'s common stock if the same has been approved by the stockholders of BIMI International Medical Inc. If the stockholders' approval has not been received by December 31, 2022, BIMI International Medical Inc. will pay the deferred payment in cash to seller by January 15, 2023, or such earlier or later date as the parties may agree. the expected closing date of the transaction in the fourth quarter of 2022. On February 27 , 2023, BIMI International Medical, Inc.

On February 27 , 2023, BIMI International Medical Inc. entered into an amendment to the Phenix SPA .Pursuant to the Amendment, in consideration of Mr. Oudom's agreement to extend the deadline for the issuance of the Deferred Payment Shares and Phenix's potential ability to generate significant revenues and profits, the Company agreed that, subject to shareholder approval, if the aggregate net profit generated by Phenix is at least $2,500,000 in calendar year 2023 or in any fiscal quarter of 2023, the BIMI International Medical Inc. will issue 5,000,000 additional shares of Common Stock to Mr. Oudom. BIMI International Medical Inc. is required to cause a shareholders meeting to be held semi-annually until shareholders' approval is obtained for the issuance of the Deferred Payment Shares and the Performance Shares ); provided , however , that if shareholders' approval has not been obtained by July 1, 2024, the Company will have to pay $1,620,000 in lieu of the Deferred Payment Shares to Mr. Oudom and if the performance target is met by December 31, 2023, pay an additional $7,500,000, the agreed upon value of the Performance Shares, to Mr. Oudom.

BIMI International Medical Inc. (NasdaqCM:BIMI) Completed the acquisition of Phenix Bio Inc. from Fnu Oudom for $7.13 million on March 15, 2023.