Xiaobai Maimai : Closing of Private Placement (Form 6-K)

Closing of Private Placement

As disclosed on Xiaobai Maimai Inc.'s (the "Company") Forms 6-K filed with the Securities and Exchange Commission on August 12, 2021 and September 13, 2021, the Company entered into certain securities purchase agreement (the "SPA") on August 9, 2021, as amended on September 8, 2021, with certain "non-U.S. Persons" (the "Purchasers") as defined in Regulation S of the Securities Act of 1933, as amended, pursuant to which the Company agreed to sell an aggregate of 6,340,000 units (the "Units"), each Unit consisting of three ordinary shares of the Company, par value $0.0001 per share ("Share") and a warrant to purchase three Shares ("Warrant") with an initial exercise price of $3.00 at a price of $1.58 per Unit, for an aggregate purchase price of approximately $10.02 million (the "Offering"), subject to various conditions to closing.

On September 17, 2021, the transaction contemplated by the SPA consummated when all the closing conditions of the SPA have been satisfied and the Company issued 6,340,000 Units to the Purchasers pursuant to the SPA.