Report of Foreign Issuer (6-k)
August 28 2020 - 6:15AM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 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 August 2020
Commission File Number: 001-38851
POWERBRIDGE TECHNOLOGIES CO., LTD.
(Translation of Registrant's name into English)
1st Floor, Building D2, Southern Software
Park
Tangjia Bay, Zhuhai, Guangdong 519080, China
Tel: +86-756-339-5666
(Address of Principal Executive Office)
Indicate by check mark whether the registrant
files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F ☒
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): ☐
CONTENTS
Private Placement in August
On August 24, 2020, Powerbridge Technologies
Co., Ltd. (the “Company”) entered into certain securities purchase agreements (the “SPAs”)
with certain “non-U.S. Persons” (the “Purchasers”) as defined in Regulation S of the Securities
Act of 1933, as amended (the “Securities Act”) pursuant to which the Company agreed to sell an aggregate of
8,800,000 ordinary shares, $0.00166667 par value per share of the Company (“Share”), at a per share purchase
price of $2.00 (the “Offering”). The net proceeds to the Company from such Offering will be approximately $17.5
million.
The parties to the SPAs have each made customary
representations, warranties and covenants, including, among other things, (a) the Purchasers are “non-U.S. Persons”
as defined in Regulation S and are acquiring the Shares for the purpose of investment, (d) the absence of any undisclosed material
adverse effects, and (c) the absence of legal proceedings that affect the completion of the transaction contemplated by the SPAs.
The SPAs are subject to various conditions
to closing, including, among other things, (a) Nasdaq approval of the listing of the Share and (b) accuracy of the parties’
representations and warranties.
The net proceeds of the Offering shall be used
by the Company in connection with the Company’s business expansion, general corporate purposes, working capital, or other
related business as approved by the board of directors of the Company.
The form of the SPAs are filed as Exhibit 10.1
to this Current Report on Form 6-K and such document is incorporated herein by reference. The foregoing is only a brief description
of the material terms of the SPA, and does not purport to be a complete description of the rights and obligations of the parties
thereunder and is qualified in its entirety by reference to such exhibits.
Exhibits
SIGNATURE
Pursuant to the requirements of the Securities
and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly
authorized.
Date: August 27, 2020
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POWERBRIDGE TECHNOLOGIES CO., LTD.
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By:
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/s/ Stewart Lor
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Stewart Lor
Chief Financial Officer
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