Current Report Filing (8-k)
March 24 2017 - 5:04PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C.
20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES
EXCHANGE ACT OF 1934
Date of Report (Date of Earliest Event Reported):
March 21, 2017
CBAK ENERGY TECHNOLOGY,
INC.
(Exact name of registrant as specified in its
charter)
Nevada
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001-32898
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86-0442833
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(State or other jurisdiction
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(Commission File No.)
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(IRS Employer
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of incorporation)
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Identification No.)
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BAK Industrial Park, Meigui Street
Huayuankou
Economic Zone
Dalian, China, 116450
(Address,
including zip code, of principal executive offices)
(86)(411)-3918-5985
(Registrants telephone
number, including area code)
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of
the following provisions (see General Instruction A.2. below):
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Written communications pursuant to Rule 425
under the Securities Act (17 CFR 230.425)
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[ ]
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Soliciting material pursuant to Rule 14a-12
under the Exchange Act (17 CFR 240.14a-12)
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[ ]
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Pre-commencement communications pursuant to
Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to
Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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ITEM 1.01.
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ENTRY INTO A MATERIAL DEFINTIVE
AGREEMENT
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On March 21, 2017, CBAK Energy Technology, Inc. (the Company)
and its wholly owned subsidiary, Dalian CBAK Power Battery Co., Ltd (Dalian
CBAK) entered into a termination agreement (the IP Termination Agreement)
with the Companys former subsidiary, Shenzhen BAK Battery Co., Ltd (Shenzhen
BAK), pursuant to which the parties agreed to terminate the intellectual
property license agreement that they entered into on August 25, 2014 (the
License Agreement). Under the License Agreement, Shenzhen BAK licensed to the
Company and Dalian CBAK any and all intellectual property rights that Shenzhen
BAK owns for a term of five years.
As a result of the execution of the IP Termination Agreement,
the License Agreement was terminated in its entirety and was deemed null and
void. The Company and Dalian CBAK may not use or transfer to any third party any
intellectual property right licensed to them by Shenzhen BAK pursuant to the
License Agreement. In addition, Shenzhen BAK agreed to pay $1 million to the
Company as the termination fee no later than one month after the
execution of the IP Termination Agreement. Shenzhen BAK also agreed to
unconditionally transfer for free to Dalian CBAK any registered trademark and
logo containing the word CBAK owned by Shenzhen BAK or its subsidiaries
(including but not limited to the trademark with the registration number of
5735737). Dalian CBAK and Shenzhen BAK will enter into a separate transfer
agreement to govern this matter.
The foregoing description of the IP Termination Agreement is
qualified in its entirety by reference to the full text of the English
translation of the IP Termination Agreement, a copy of which is filed as Exhibit
10.1 to this Current Report.
ITEM 1.02.
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TERMINATION OF A MATERIAL DEFINITIVE
AGREEMENT
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The information set forth in Item 1.01 above is incorporated by
reference in response to this Item 1.02.
ITEM 9.01.
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FINANCIAL STATEMENTS AND EXHIBITS.
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(d) Exhibits
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of
1934, the Registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
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CBAK ENERGY TECHNOLOGY, INC.
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Date: March 23, 2017
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By:
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/s/ Yunfei Li
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Yunfei Li
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Chief Executive Officer
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