Current Report Filing (8-k)
December 07 2017 - 9:02AM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or Section 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported): December
7, 2017
China
Commercial Credit, Inc.
(Exact name of registrant as specified in
its charter)
Delaware
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001-36055
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45-4077653
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(State or other jurisdiction
of incorporation)
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(Commission
File Number)
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(IRS Employer
Identification No.)
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No.1 Zhongying Commercial Plaza,
Zhong Ying Road,
Wujiang, Suzhou,
Jiangsu Province, China
(Address of Principal Executive Offices)
(86-0512) 6396-0022
(Issuer’s telephone number)
Check the appropriate box below if the Form 8-K filing
is intended to simultaneously satisfy the filing obligation to the registrant under any of the following provisions:
☐
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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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☐
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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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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
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Entry into a Material Definitive Agreement.
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On December 1, 2017,
China Commercial Credit, Inc. (the “
Company
”) has entered into a securities purchase agreement (the “
Purchase
Agreement
”) with Long Yi, the Chief Financial Officer of the Company and Yang Jie, a significant shareholder and VP of
Finance of the Company (the “
Purchaser
”) whereby the Company agreed to sell 200,000 shares of common stock (the
“
Shares
”) at a purchase price of $3.50 per Share, for gross proceeds to the Company of approximately $700,000.
In connection with the purchase of the Shares, the Purchaser will receive a warrant (the ‘
Warrants’
) to purchase
up to the number of shares of the Company’s common stock equal to 80,000 shares of common stock purchased by the Purchaser
pursuant to the Purchase Agreement. The Warrants have an exercise price of $4.20 per share, become exercisable on the date of issuance
and expire five years from the date of issuance. The offering closed on December 4, 2017.
The Purchase Agreements
contain customary representations, warranties and agreements by the Company, customary conditions to closing, indemnification obligations
of the Company, termination provisions, and other obligations and rights of the parties.
The Company
estimates that the net proceeds from the offering will be approximately $685,000.
The offering is being
made pursuant to the Company’s effective registration statement on Form S-3 (Registration Statement No. 333-217473)
previously filed with the Securities and Exchange Commission and a prospectus supplement thereunder. The securities may be offered
only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. A prospectus
supplement relating to the offering of the securities has been filed with the SEC and is available on the SEC’s website at
http://www.sec.gov. A copy of the opinion of Hunter Taubman Fischer & Li LLC relating to the legality of the issuance and sale
of the securities in the offering is attached as Exhibit 5.1 hereto.
The foregoing descriptions
of the Purchase Agreements and the Warrants are qualified in their entireties by reference to the full text of the Form of Purchase
Agreement and the form of Warrant, copies of which are filed herewith as Exhibit 10.1 and Exhibit 4.1, respectively, to this
Current Report on Form 8-K and are incorporated by reference herein.
Item 9.01.
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Financial Statements and 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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China Commercial Credit, Inc.
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Date: December 7, 2017
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By:
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/s/ Long Yi
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Long Yi
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Chief Financial Officer
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