Form 8-K - Current report
September 10 2024 - 4:10PM
Edgar (US Regulatory)
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2024-09-10
2024-09-10
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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): September 10, 2024
NUZEE,
INC.
(Exact
name of registrant as specified in its charter)
Nevada |
|
001-39338 |
|
38-3849791 |
(State
or other jurisdiction
of
incorporation or organization |
|
(Commission
File
No.) |
|
(IRS
Employer
Identification
No.) |
2865
Scott St. Suite 107, Vista, California 92081
(Address
of principal executive offices)
(760)
295-2408
(Registrant’s
telephone number, including area code)
N/A
(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:
☐ |
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|
|
☐ |
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
|
|
☐ |
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
|
|
☐ |
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities
registered pursuant to Section 12(b) of the Act:
Title
of each class |
|
Trading
Symbol(s) |
|
Name
of each exchange on which registered |
Common
Stock, $0.00001 par value |
|
NUZE |
|
The
Nasdaq Stock Market LLC |
Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging
growth company ☐
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item
1.01 Entry into a Material Definitive Agreement.
As
previously disclosed in the Current Report on Form 8-K filed by the Company with the SEC on August 26, 2024, on August 20, 2024, NuZee,
Inc., a Nevada corporation (the “Company”), entered into a convertible note purchase agreement (the “Purchase Agreement”)
with certain investors (the “Investors”) to issue and sell convertible notes in the aggregate principal amount of USD$1,300,000
(the “Notes”). The Notes bear interest at an annual rate of 7% and have a maturity date of one year from the issuance date.
The Notes shall not be converted until the Company obtains shareholder approval for the issuance of shares underlying the Notes. Upon
obtaining such approval, the holder may convert the Notes into a number of shares of Common Stock equal to (i) the outstanding principal
amount of the Notes, plus any accrued but unpaid interest, divided by (ii) $0.94, the conversion price. Any conversion of the Notes resulting
in a fractional share shall be rounded down to the nearest whole share. On August 20, 2024, in connection with the Purchase Agreement,
the Company entered into a Registration Rights Agreement with the Investors (the “Registration Rights Agreement”). The Company
shall prepare and, as soon as practicable, but in no event later than 30 days subsequent to the filing of the Form 10-Q for the period
ended June 30, 2024, or five business days after the approval by the Company’s stockholders of the transactions contemplated in
the Purchase Agreement, whichever is later.
As
previously disclosed in the Current Report on Form 8-K filed by the Company with the SEC on September 6, 2024, on September 6, 2024,
the Company issued two Notes with principal amounts of $300,000 and $450,000 separately to two non-U.S. investors pursuant to the Purchase
Agreement following receipt of the purchase amounts.
On
September 10, 2024, the Company issued a Note with a principal amount of $550,000 to a non-U.S. investor pursuant to the Purchase Agreement
following receipt of the purchase amount. Following such issuance, the closing of the sale of all Notes with the aggregate principal
amount of USD$1,300,000 pursuant to the Purchase Agreement has been completed.
The
foregoing description of the Purchase Agreement, the Notes and the Registration Rights Agreement does not purport to be complete and
is qualified in its entirety by the full text of the Purchase Agreement, the Notes, and Registration Rights Agreement, the forms of which
were attached as Exhibits 10.1, 10.2 and 10.3, respectively, to the Current Report on Form 8-K filed by the Company with the SEC on August
26, 2024, and are incorporated herein by reference.
Item
2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The
information provided in Item 1.01 of this Current Report on Form 8-K is hereby incorporated by reference in this Item 2.03.
Item
3.02. Unregistered Sales of Equity Securities.
The
information provided in Item 1.01 of this Current Report on Form 8-K is hereby incorporated by reference in this Item 3.02.
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 thereunto duly authorized.
|
NUZEE,
INC. |
|
|
|
Dated:
September 10, 2024 |
By: |
/s/
Jianshuang Wang |
|
Name: |
Jianshuang
Wang |
|
Title: |
Chief
Executive Officer and Director |
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