Company: AEHL
Filing Date: 2025-05-01
Form Type: 20-F
Source: 0001641172-25-008020
Chunk: 9

Company: Antelope Enterprise Holdings Ltd
Filing Date: 2025-05-01
Form: 20-F
Item: Item 4
Chunk 9
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 to 10,000,000 the Class A ordinary shares of the company, each at the subscription price, which equals to the lesser of (i) the average closing price of the Class A ordinary shares during the for the three consecutive trading days commencing on the applicable Advance Notice Date (as defined in the Subscription Agreement), or (ii) $1.12. Any proceeds that the company receives under the subscription agreements are expected to be used for the repayment of three promissory notes with an aggregate outstanding balance of approximately $6.75 million, the expansion of the business in the U.S., for the recruitment of personnel in the U.S. and for general corporate purpose.
 
On April 2, 2024, we entered into a warrant exchange agreement with certain holder of warrants to purchase Class A ordinary shares, no par value each, (of the Company, pursuant to which the Holder agreed to surrender the Warrants for cancellation and the Company agreed, in exchange, to issue 0.5 restricted Class A ordinary shares for each Warrant. The holder owned 60,052 warrants at the time of entering into the warrant exchange agreement, and received 30,026 restricted Class A ordinary shares upon closing of the transaction as contemplated in the warrant exchange agreement.
 
On April 15, 2024, we entered into a warrant exchange agreement with a holder of warrants to purchase Class A ordinary shares, pursuant to which the holder agreed to surrender the Warrants for cancellation and we agreed, in exchange, to issue 0.5 restricted Class A ordinary shares for each Warrant. The holder owned 50,071 warrants at the time of entering into the warrant exchange agreement, and received 25,036 restricted Class A ordinary shares upon closing.
 
On July 31, 2024, we entered into a securities purchase agreement with an investor to sell in a registered direct offering an aggregate of 500,000 Class A ordinary shares of the company. The gross proceeds from the offering were approximately $1.25 million, before offering expenses. We intend to use the net proceeds received from the Offering for general working capital purposes.
 
On September 25, 2024, we entered into a convertible promissory note purchase agreement with an institutional investor to purchase $990,000 of its convertible note (to purchase its class A ordinary shares in a registered direct offering. 
 
On November 14, 2024, we closed a private placement transaction pursuant to a securities purchase agreement with an investor whereby the investor purchased an aggregate of