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A merger between a Cayman Islands father or mother company and its Cayman Islands subsidiary or subsidiaries doesn’t require authorization by a resolution of shareholders. For this function a subsidiary is a company of which a minimum of 90% of the issued shares entitled to vote are owned by the father or mother firm. The Cayman Islands Companies Act permits mergers and consolidations between Cayman Islands firms and between Cayman Islands corporations and non-Cayman Islands corporations.
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We are offering 7,812,500 odd shares, par worth $0.001 per share, and warrants to buy 7,812,500 strange shares, or Warrants, at an mixture assumed providing worth of US$5.12 per ordinary share and Warrant which relies on the final reported closing trading price of our odd shares on Nasdaq on July 14, 2021. Each Warrant will be immediately exercisable for one ordinary share at an exercise price of US$ per share (not lower than 100% of the general public providing price of per ordinary share and Warrant offered in this offering) and expire 5 years after the issuance date. The ordinary shares and Warrants will be separately issued, but the strange shares and Warrants might be issued and offered to purchasers in a mixture of 1 ordinary share and one Warrant to purchase one strange share for a mixed offering value of US$5.12.
All Warrants issued on transfers or exchanges shall be dated the Original Issuance Date of this Warrant and shall be equivalent with this Warrant except as to the variety of Warrant Shares issuable pursuant thereto.
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