JX Luxventure Group Inc. issued 2.1 million shares of common stock to CEO Sun Lei at a discounted price of $2.986 per share in exchange for the cancellation of $6.27 million of company debt.
Key takeaways
The company issued 2.1 million shares to CEO Sun Lei in exchange for canceling $6.27 million of her loans to the company.
The shares were issued at a 20% discount to the March 25, 2026 closing price of $3.732 per share.
The transaction was authorized by the board of directors and holders of a majority of the total outstanding voting power.
Following the issuance, the company has 9,276,831 shares of common stock issued and outstanding.
The shares were issued under exemptions from registration under Section 3(a)(9) of the Securities Act and/or Regulation S.