Elite Express Holding Inc. entered into a Stock Purchase Agreement on March 10, 2026, with eight non-U.S. investors to issue and sell 32,000,000 shares of Class A Common Stock at $0.25 per share for $8,000,000 in gross proceeds via a private placement exempt under Regulation S. Closing is expected within 90 days, subject to conditions including Nasdaq approval if required.
Key takeaways
Entered Stock Purchase Agreement on March 10, 2026 with eight non-U.S. Purchasers
Issuing 32,000,000 shares of Class A Common Stock, $0.000001 par value
Price per share: $0.25, aggregate gross proceeds: $8,000,000
Private Placement exempt under Rule 903 of Regulation S
Closing within 90 days or mutually agreed date, conditioned on Delaware law compliance and Nasdaq approval if required
Shares are restricted securities under Rule 144
Beneficial Ownership Limitation of 9.99% per Purchaser