Company: EUDAW
Filing Date: 2025-04-29
Form Type: 20-F
Source: 0001641172-25-006627
Chunk: 141

Company: EUDA Health Holdings Ltd
Filing Date: 2025-04-29
Form: 20-F
Item: Item 19
Chunk 141
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 Recapitalization:

Schedule
of shares issued and outstanding reverse recapitalization

  8i ordinary shares outstanding prior to Reverse Recapitalization       11,073,500  
  Less: redemption of 8i ordinary shares                                ( 6,033,455  
  Conversion of 8i rights                                                   891,725  
  Shares issued to service providers                                        260,000  
  Conversion of EHL ordinary shares into 8i ordinary shares              14,000,000  
  Total shares outstanding                                               20,191,770  

EHL
was determined to be the accounting acquirer given EHL effectively controlled the combined entity after the SPAC Transaction. The transaction
is not a business combination because 8i was not a business. The transaction is accounted for as a reverse recapitalization, which is
equivalent to the issuance of shares by EHL for the net monetary assets of 8i, accompanied by a recapitalization. EHL is determined as
the accounting acquirer and the historical financial statements of EHL became the Company’s historical financial statements, with
retrospective adjustments to give effect of the reverse recapitalization. The net assets of 8i were recognized as of the closing date
at historical cost, with no goodwill or other intangible assets recorded. Operations prior to the Merger are those of EHL and EHL’s
operations are the only ongoing operations of EHL.

In
connection with the Reverse Recapitalization, the Company raised approximately $ 1.3 87.1 0.2 60.8 6,033,455 3.0 21.9 0.3

The
following table reconcile the elements of the Reverse Recapitalization to the consolidated statements of cash flows and the changes in
shareholders’ equity (deficit):

Schedule
of financial statements of reverse recapitalization

                                                                                                       November 18, 2022  
 ──────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Funds held in 8i’s trust account                                                                           $87,074,185  
  Funds held in 8i’s operating cash account                                                                      248,499  
  Less: amount paid to redeem public shares of 8i’s ordinary shares                                         ( 60,839,550  
  Less: payments of transaction costs incurred by 8i                                                         ( 2,965,646  
  Less: payments of forward purchase agreements                                                             ( 21,