GRNQ Greenpro Capital
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
February 16, 2021 (February 11, 2021)
GREENPRO CAPITAL CORP.
(Exact name of registrant as specified in its charter)
(State or other jurisdiction of incorporation)
B-7-5, Northpoint Office,
Mid Valley City, No.1 Medan Syed Putra Utara,
59200 Kuala Lumpur, Malaysia
(Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including area code: (603) 2201-3192
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, $0.0001 par value||GRNQ||NASDAQ Capital Market|
Section 1 – Registrant’s Business and Operations
Item 1.01. Entry Into A Material Definitive Agreement
On February 11, 2021 our British Virgin Islands subsidiary, Greenpro Resources Limited, entered into a subscription agreement with Innovest Energy Fund (“Innovest”) to subscribe for $7,206,000 worth of Class B shares. In consideration for the subscription, Greenpro Capital Corp. (the “Company”) will be issuing 3,000,000 restricted shares of its common stock, par value $0.0001 per share, valued at $7,206,000.
The preceding description of the Agreement does not purport to be complete and is qualified in its entirety by reference to the Agreement, which is filed as Exhibit 10.1 to this report and incorporated herein by reference.
Section 3 – Securities and Trading Markets
Item 3.02 Unregistered Sales of Equity Securities
The information set forth in Item 1.01 hereof is hereby incorporated by reference into this Item 3.02. The issuance of Company common stock pursuant to the Agreement will be exempt from registration pursuant to the provisions of Section 4(a)(2) of the Securities Act, as amended and Rule 506 of Regulation D promulgated thereunder. Innovest has represented to the Company that he/she (i) is an “accredited investor” as defined in Rule 501(a) of Regulation D promulgated under the Securities Act, (ii) is knowledgeable, sophisticated and experienced in making investment decisions of this kind, and (iii) has had adequate access to information about the Company.
Further, the Company is relying on the exemptions from registration under Section 4(a)(2) of the Securities Act of 1933, as amended and Regulation S under the Securities Act for purposes of the private placement of the shares of common stock shares as such shares have not been offered or sold in the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the Securities Act) or persons in the United States.
Section 7- Regulation FD
Item 7.01 Regulation FD Disclosure
On February 11, 2021, the Company issued a press release announcing the entry into a subscription agreement with Innovest for its Class B shares
A copy of the news release is attached as Exhibit 99.1 hereto and incorporated herein by reference.
This disclosure does not constitute an offer to sell, or the solicitation to buy, any such security.
Item 9.01 Financial Statements and Exhibits.
|10.1||Subscription Agreement between Greenpro Reserouces Limited and Innovest Energy Fund dated February 11, 2021.|
|99.1||Press release dated February 11, 2021.|
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.
|GREENPRO CAPITAL CORP.|
|(Name of Registrant)|
|Date: February 16, 2021||By:||/s/ Lee Chong Kuang|
|Name:||Lee Chong Kuang|
|Title:||Chief Executive Officer, President, Director (Principal Executive Officer)|