On September 6, 2024, INNO Holdings Inc., a Texas-based corporation, announced the entry into three separate securities purchase agreements (SPAs) with various investors and sellers. The first agreement, SPA I, involves the sale of 100,000 shares of common stock to investors for $300,000, contingent upon a 1:10 reverse stock split and the filing of a related Form 8-K. The second agreement, SPA II, includes the sale of 742,578 shares for $2.7 million, with the conditions of two directors' resignations, including the Chairman and CEO, and the appointment of new directors and a CEO as recommended by the investors. The third agreement, SPA III, involves the sale of 842,578 shares for $4 million, with similar conditions regarding director resignations and appointments. The closing of SPA I will occur three...Show More

On September 6, 2024, INNO Holdings Inc., a Texas-based corporation, announced the entry into three separate securities purchase agreements (SPAs) with various investors and sellers. The first agreement, SPA I, involves the sale of 100,000 shares of common stock to investors for $300,000, contingent upon a 1:10 reverse stock split and the filing of a related Form 8-K. The second agreement, SPA II, includes the sale of 742,578 shares for $2.7 million, with the conditions of two directors' resignations, including the Chairman and CEO, and the appointment of new directors and a CEO as recommended by the investors. The third agreement, SPA III, involves the sale of 842,578 shares for $4 million, with similar conditions regarding director resignations and appointments. The closing of SPA I will occur three business days after the filing of the Split Form 8-K, SPA II will close seven business days after SPA I, and SPA III will close six months after SPA II. These agreements include customary representations, warranties, covenants, and indemnities. Additionally, the report mentions material modifications to the rights of security holders and the departure and appointment of certain officers, which are detailed in the same report.