$CMSS+$RENN Combo/Agreement-> $KXIN for $454,000,000 05/01/19 fürNASDAQ:KXIN von StockGuild

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$RENN The Original Parent Company currently holds 72% of the entire O/S

And has agreed to the below stipulation:

Upon the closing of the transactions contemplated in the Share Exchange Agreement in which CM Seven Star acquired 100% of the issued and outstanding securities of Kaixin, Renren received approximately 28.3 million ordinary shares of CM Seven Star, representing 71.7% of the total outstanding shares of CM Seven Star. An additional 4.7 million ordinary shares of CM Seven Star will be issued in exchange for currently outstanding options in Kaixin or reserved for issuance under the equity incentive plan of CM Seven Star. Additionally, 19.5 million earnout shares were issued in escrow. Approximately 20.4 million ordinary shares were redeemed in connection with the closing of the transaction. Kaixin has raised a total of $30.9 million from the business combination and related transactions, including $2.4 million that remains in the trust account established for the benefit of CM Seven Star’s public shareholders following the redemption and $28.5 million from convertible loans and a private placement.

Several Form 4's dropped at 9PM 05/11/19

CEO
565,700 Shares

COO
471,400 Shares

CTO
94,200 Shares

VP of Marketing
75,340 Shares

VP of Finance
94,200 Shares

VP of Fine Products
18,750 Shares

Director
1,060,875 Shares

Director
477,518 Shares

Director
9,530 Shares

Director
9,430 Shares

Haftungsausschluss

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