EUDA Health issues shares to settle debts, including to CEO, and sells $940,000 in stock
EUDA Health Holdings issued 2,317,606 restricted shares on May 16, 2023, to settle debts owed to a major shareholder, its CEO and related companies, and converted a $700,000 note into 700,000 shares. Between May 16 and May 22, 2023, it also sold 940,000 shares at $1.00 each to eight accredited investors for $940,000, which adds to the outstanding share count.
- 1,617,606 shares issued May 16, 2023, under five settlement agreements, including 850,306 shares to CEO Kelvin Chen to satisfy a $850,306 claim.
- 700,000 shares issued May 16, 2023, after James Tan converted a $700,000 note at $1.00 per share.
- 940,000 shares sold at $1.00 each, for $940,000, to eight accredited investors between May 16 and May 22, 2023.
- None of the shares are registered under the Securities Act; the company agreed to register resale of the placement shares under registration rights agreements.