Report of Foreign Issuer Pursuant to Rule 13a-16 or 15d-16 (6-k)
February 22 2021 - 8:01AM
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
OF THE SECURITIES EXCHANGE ACT OF 1934
For the month of
February 2021
Commission File
Number 001-37593
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BORQS TECHNOLOGIES, INC.
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(Translation of registrant’s name into English)
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Suite 309, 3/F, Dongfeng KASO
Dongfengbeiqiao, Chaoyang District
Beijing 100016, China
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(Address of principal executive offices)
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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): ☐.
Note: Regulation
S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report
to security holders.
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): ☐.
Note: Regulation
S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the
registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated,
domiciled or legally organized (the registrant’s “home country”), or under the rules of the home country exchange
on which the registrant’s securities are traded, as long as the report or other document is not a press release, is not required
to be and has not been distributed to the registrant’s security holders, and, if discussing a material event, has already
been the subject of a Form 6-K submission or other Commission filing on EDGAR.
INFORMATION CONTAINED IN THIS FORM 6-K
REPORT
As previously disclosed, the Company
has entered into agreements dated December 14, 2020 with its senior lender and LMFA Financing LLC (“LMFA”), a
Florida limited liability company and wholly owned subsidiary of LM Funding America, Inc. (Nasdaq: LMFA), in which LMFA will
purchase approximately $18 million of debt in tranches. As of February 10, 2021, LMFA has completed the purchase of $18.23
million of principal, accrued interest and applicable fees (the “Debt”), converted into and sold all 22.73
million shares of the Company’s ordinary shares. With the Company settling another $1.27 million of Debt directly with
the senior lender through the issuance of 1.51 million shares on February 17, 2021 which the senior lender has subsequently
sold, the Company’s defaulted Debts with the senior lender totaling $19.5 million have been eliminated.
A copy of the press release, dated February 22, 2021, announcing
transactions described above is attached as Exhibit 99.1.
EXHIBIT INDEX
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,
thereunto duly authorized.
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BORQS TECHNOLOGIES INC.
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(registrant)
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Dated: February 22, 2021
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By:
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/s/ Anthony K. Chan
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Anthony K. Chan
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Chief Financial Officer
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