SEC Contract Filing

Filing Date: 2024-11-18

Document Content:
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<TYPE>EX-10.1
<SEQUENCE>3
<FILENAME>miniminc_ex10-1.htm
<DESCRIPTION>EXHIBIT 10.1
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; margin: 0"><B>Exhibit 10.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; margin: 0"><I>Execution Version</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0; margin-bottom: 0"><B>SECURITIES PURCHASE AGREEMENT</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">This Securities Purchase Agreement (this &ldquo;<U>Agreement</U>&rdquo;) is dated as of November&nbsp;12, 2024, among (i) MINIM, INC., a Delaware corporation (the &ldquo;<U>Company</U>&rdquo;), and (ii) <FONT STYLE="text-transform: uppercase">Cao, Yu</FONT>, an individual (&ldquo;<U>Cao</U>&rdquo;), <FONT STYLE="text-transform: uppercase">Hu-Bin</FONT>, an individual, and Youxin Consulting Limited, a Hong Kong company (each of the foregoing in (ii), a &ldquo;<U>Purchaser</U>&rdquo; and collectively, the &ldquo;<U>Purchasers</U>&rdquo;).</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">WHEREAS, subject to the terms and conditions set forth in this Agreement and pursuant to Regulation S (&ldquo;<U>Regulation S</U>&rdquo;) under the U.S. Securities Act of 1933, as amended (the &ldquo;<U>Securities Act</U>&rdquo;), the Company desires to issue and sell to Purchasers, and Purchasers desire to purchase from the Company, securities of the Company as more fully described in this Agreement.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">WHEREAS, it is understood by the parties that the Company is entering into this Agreement in order to provide for the issuance and sale by the Company of the Securities (as defined below) in an &ldquo;offshore transaction&rdquo; within the meaning of Regulation S.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">NOW, THEREFORE, IN CONSIDERATION of the mutual covenants contained in this Agreement, and for other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the Company and Purchasers agree as follows:</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>ARTICLE I.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>DEFINITIONS</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">I.1&nbsp;<U>Definitions</U>. In addition to the terms defined elsewhere in this Agreement the following terms have the meanings set forth in this Section I.1:</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in">&ldquo;<U>Acquiring Person</U>&rdquo; shall have the meaning given such term in Section IV.6.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in">&ldquo;<U>Action</U>&rdquo; shall have the meaning given such term in Section III.1(j).</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in">&ldquo;<U>Affiliate</U>&rdquo; means any Person that, directly or indirectly through one or more intermediaries, controls or is controlled by or is under common control with a Person, as such terms are used in and construed under Rule&nbsp;405 under the Securities Act.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in">&ldquo;<U>Affiliate Transactions</U>&rdquo; shall have the meaning given such term in Section III.1(s).</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in">&ldquo;<U>BHCA</U>&rdquo; shall have the meaning given such term in Section III.1(nn).</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in">&ldquo;<U>Board of Directors</U>&rdquo; means the board of directors of the Company.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in">&ldquo;<U>Business
Day</U>&rdquo; means any day other than Saturday, Sunday or other day on which commercial banks in The City of New York are authorized
or required by law to remain closed.</P>

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