Company: EUDAW
Filing Date: 2025-04-29
Form Type: 20-F
Source: 0001641172-25-006627
Chunk: 116

Company: EUDA Health Holdings Ltd
Filing Date: 2025-04-29
Form: 20-F
Item: Item 19
Chunk 116
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 China). The Articles of Association prohibited the Company
from undertaking the Initial Business Combination with any entity that conducts a majority of its business or is headquartered in China
(including Hong Kong and Macau).

On
November 17, 2022 (the “ Closing Date”), EUDA Health Holdings Limited, a British Virgin Islands business company (formerly
known as 8i Acquisition 2 Corp.) (the “ Company”), consummated the business combination contemplated by the Share Purchase
Agreement (the “ SPA”) between 8i Acquisition 2 Corp., a BVI business company (“8i”), EUDA Health Limited, a British
Virgin Islands business company (“ EHL”), Watermark Developments Limited, a British Virgin Islands business company (“ Watermark”
or the “ Seller”), and Kwong Yeow Liew, dated April 11, 2022 and amended May 30, 2022, June 10, 2022, and September 7, 2022.
As contemplated by the SPA, a business combination between 8i and EHL was effected by the purchase by 8i of all of the issued and outstanding
shares of EHL from the Seller (the “ Share Purchase”), resulting in EHL becoming a wholly owned subsidiary of 8i. In addition,
in connection with the consummation of the Share Purchase, 8i has changed its name to “ EUDA Health Holdings Limited.”

The
Company, through its subsidiaries, operates in two business segments focused
on property management services, providing services to shopping malls, office buildings, and residential apartments, and holistic wellness
consumer products and services after the discontinuation of its medical service operation in September 2023. The streamlining of the Company’s
medical services practice was accounted for as a discontinued operation because it represented a strategic shift that had a major effect
on the Company’s operations and financial results in accordance with ASC 205-20-45. Accordingly, assets, liabilities, results of
operations, and cash flows related to its medical service practice have been reflected in the accompanying consolidated financial statements
as discontinued operation for all periods presented. The consolidated balance sheets as of December 31, 2024 and 2023 consolidated statements
of operations and comprehensive income (loss) and consolidated statements of cash flows for the years ended December 31, 2024, 2023 and
2022 have been adjusted to reflect this change (see Note 4).

Recent
development

Acquisition
of Fortress Cove Limited