Item 3.02 Unregistered Sales of Equity Securities
On April 23, 2021, Vivic Corp ("Company") converted a debt in the amount of
$462,888.00 (RMB3,006,110.74) ("Debt"), which was owed to Shunji Kuang, into
shares of common stock of the Company, at the conversion rate of US$1 per share
and accordingly issued 462,888 shares of common stock to Shunji Kuang.
The Debt was previously lent by Shunji Kuang to Khashing Yacht Industry
(Guangdong) Limited Yacht Company, a wholly owned subsidiary of the Company, and
was then assumed by the Company.
The issuance of these shares is pursuant to the exemption from registration
provided by Section 4(2) of the Securities Act of1933.
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