Item 3.02 Unregistered Sales of Equity Securities
As disclosed on Takung Art Co., Ltd.'s (the "Company") Current Report on Form
8-K (the "Form 8-K") filed on August 24, 2022, the Company entered into certain
securities purchase agreement, dated June 27, 2022, as amended on July 27, 2022
(the "SPA"), with certain "non-U.S. Persons" (the "Purchasers") as defined in
Regulation S of the Securities Act of 1933, as amended (the "Securities Act").
Pursuant to the SPA, the Company agreed to issue 10,380,623 units for a per unit
price of $2.89 (the "Units"). Each Unit consists of one share of the common
stock of the Company, par value $0.001 per share (the "Common Stock") and a
warrant to purchase two shares of Common Stock.
The issuance and sale of the Units is exempted from the registration requirement
of the Securities Act pursuant to Regulation S promulgated thereunder.
The transaction contemplated by the SPA was closed on September 13, 2022, as all
the closing conditions have been satisfied.
1
© Edgar Online, source Glimpses