Report of Foreign Issuer (6-k)
November 20 2017 - 4:32PM
Edgar (US Regulatory)
U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934
For the month of November 2017
Commission File Number: 001-34409
RECON TECHNOLOGY, LTD
Room 1902, Building C, King Long International
Mansion
No. 9 Fulin Road
Beijing, 100107
People’s Republic of China
(Address of principal executive offices)
Indicate by check mark whether the registrant
files or will file annual reports under cover of Form 20-F or Form 40-F.
Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):
¨
Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):
¨
On November 20, 2017, Recon
Technology, Ltd. (the “Company”) entered into a securities purchase agreement (the “Agreement”) with
Yongquan Bi (“Mr. Bi.”), pursuant to which Mr. Bi agreed to purchase an aggregate of 3 million unregistered
restricted shares for $4.8 million, a per-share purchase price of $1.60. The purchase price marks a premium of 12.6% over the
closing price of $1.4207 per share on November 17, 2017, the last day before entry into the Agreement.
The purchase price will be paid in two
installments of $2.4 million each. The first installment was paid on November 20, 2017, and the second installment will be paid
on or before January 20, 2018. The shares will be issued on the earlier of the date of the second installment or January 20, 2018;
provided, however, that the number of shares will be reduced in the event Mr. Bi fails to pay all of the purchase price on or before
the second due date.
In addition to being unregistered, the
shares will be restricted pursuant to the terms of a lock-up, which prohibits the sale, gift, pledge or other transfer or assignment
until January 20, 2020.
Exhibits
The following document is filed herewith:
Exhibit
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Number
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Document
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10.1
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Share Purchase Agreement, dated November 20, 2017
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99.1
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Press release, dated November 20, 2017
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SIGNATURES
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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RECON TECHNOLOGY, LTD.
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Date: November 20, 2017
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By:
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/s/ Liu Jia
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Name: Liu Jia
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Title: Chief Financial Officer
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