Summary by Futu AI
On February 18, 2025, Minim entered into an Amended and Restated Securities Purchase Agreement with Cao Yu, Hu Bin, and Youxin Consulting Limited. The Purchasers acquired Securities from David Lazar including preferred stock, warrants, and common stock for $500,000, resulting in 90.6% ownership of Minim's outstanding Common Stock on a fully diluted basis.The agreement includes potential additional payment of $3.4M to Seller if Minim gets listed on Nasdaq markets by December 31, 2025, plus 3% of outstanding common shares. The company will increase Series A Convertible Preferred Stock's Stated Value from $1.40 to $2.75 in exchange for warrant cancellation and receivables forgiveness, which will adjust Purchasers' ownership to 55%.Following the transaction, five directors including Avraham Ben-Tzvi, Andrew Papanicolau, Matthew McMurdo, Patrick Rivard, and David Natan resigned effective February 19, 2025. The company also extended the outside date for completing previously announced transactions to December 31, 2025.
This strategy is often seen in tariff policies and trade negotiations.
First, he scared everyone quite a bit, and then he gave a little reward.Imagine you are bargaining in a vegetable market, and Trump's approach is to first raise a loudspeaker and shout: "This pile of cabbage must be sold to me for 100 yuan today!" When the vendor is stunned, he suddenly rubs his hands and says: "But seeing that you are not having an easy time, let's settle for 80 yuan~"
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