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Minim | SCHEDULE 13D: Others

SEC ·  Feb 26 01:46

Summary by Futu AI

On February 18, 2025, Cao Yu, Hu Bin, and Youxin Consulting Limited collectively acquired significant ownership in Minim through a $500,000 securities purchase agreement with David Lazar. The transaction includes Series A Convertible Preferred Stock, warrants for additional common stock, and existing common shares, resulting in a combined 90.6% beneficial ownership.Cao Yu holds 31.4% ownership through 1.13M preferred shares and warrants for 1.43M common shares. Hu Bin controls 23.5% via 847K preferred shares and warrants for 1.07M common shares. Youxin Consulting Limited, directed by Li Wai Chung, holds 35.7% through a combination of preferred shares, common stock, and warrants.The agreement includes potential additional compensation of $3.4M to the seller if Minim lists on Nasdaq by December 31, 2025. The company plans to amend its certificate to increase preferred stock stated value from $1.40 to $2.75 in exchange for warrant cancellation and receivables forgiveness.
On February 18, 2025, Cao Yu, Hu Bin, and Youxin Consulting Limited collectively acquired significant ownership in Minim through a $500,000 securities purchase agreement with David Lazar. The transaction includes Series A Convertible Preferred Stock, warrants for additional common stock, and existing common shares, resulting in a combined 90.6% beneficial ownership.Cao Yu holds 31.4% ownership through 1.13M preferred shares and warrants for 1.43M common shares. Hu Bin controls 23.5% via 847K preferred shares and warrants for 1.07M common shares. Youxin Consulting Limited, directed by Li Wai Chung, holds 35.7% through a combination of preferred shares, common stock, and warrants.The agreement includes potential additional compensation of $3.4M to the seller if Minim lists on Nasdaq by December 31, 2025. The company plans to amend its certificate to increase preferred stock stated value from $1.40 to $2.75 in exchange for warrant cancellation and receivables forgiveness.

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