Summary by Futu AI
FLJ Group, previously known as FLJ Group Limited, has completed a significant transaction with Burgeon Capital Inc. On June 6, 2024, the two entities entered into a share subscription agreement and a payoff letter, leading to the issuance of 58.59 trillion Class A ordinary shares by FLJ Group to Burgeon Capital. This share issuance serves as repayment for all outstanding principal and accrued interest under a previously issued secured promissory note valued at $27 million with a 3% annual interest rate, which was originally issued on December 28, 2023. Concurrently, FLJ Group adopted the 2024 Equity Incentive Plan and issued 6.14 trillion Class B ordinary shares to Golden Stream Ltd., an ESOP Platform based in the Cayman Islands. These shares are intended for the participants of the equity incentive plan, both before and after vesting. The transactions were executed under exemptions from securities registration according to the Securities Act of 1933. As a result of these issuances, FLJ Group now has over 61.17 trillion Class A and 6.39 trillion Class B ordinary shares outstanding.