Company: OCG
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001213900-25-043484
Chunk: 164

Company: Oriental Culture Holding LTD
Filing Date: 2025-05-15
Form: 20-F
Item: Item 19
Chunk 164
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 for 1 reverse stock
split) of ordinary shares (the “ Shares”) of the Company, at a purchase price of $5.00（$25.00after the 5 for 1
reverse stock split）per share for $3,000,000(the “ Private Placements”). In connection with offering, the Company
has also agreed to issue the warrants to the Investors to purchase up to an aggregate of600,000ordinary shares (120,000after the
5 for 1 reverse stock split) at an exercise price of $6.00per share ($30.00after the 5 for 1 reverse stock split )(the
“ Warrants”). The Warrants have a term of one year and are exercisable by the holder at any time after the date of
issuance and prior to the expiration of the Warrants. The Shares would be issued pursuant to the exemption from registration
provided by Regulation S promulgated under the Securities Act of 1933, as amended. The Company issued600,000shares (120,000after
the 5 for 1 reverse stock split) to investors and recorded net proceed of $2.0million as of December 31, 2021. Subscription
receivable amounted to $1.0million as of December 31, 2021. This receivable was received during the year ended December 31,
2022.

On June 6, 2022, the Company entered into a Business
Management Consulting Agreement with Jiangsu Siluete Brand Management Co. Ltd. (“ Jiangsu Siluete”), pursuant to which the
Company agreed to issue182,280(36,456after the 5 for 1 reverse stock split) shares to Gao Mei, who is the shareholder and CEO of Jiangsu
Siluete, for consulting fee to Jiangsu Siluete from March 1, 2022 to February 28, 2023. The total stock compensation for the year ended
December 31, 2023 and 2022 was $92,960and $464,814, respectively, based on grant date fair value of $557,777or $3.06($15.30after the
5 for 1 reverse stock split) per share.

On May 31, 2024, the Company entered into a Securities
Purchase Agreement with certain purchasers, pursuant to which the Company agreed to sell to the purchasers in a private placement14,000,000ordinary shares of the