Chan Heng Fai Ambrose's Form 4 filing
Value Exchange International, Inc. (VEII) · filed Feb 27, 2023
- Accession no.
- 0001493152-23-006136
- Filed
- Feb 27, 2023, 9:54 PM ET
- Trade date
- Feb 23, 2023
- Filing delay
- 4 days
- Rule 10b5-1 plan
- Not on the form (before 2023)
This filing lists 1 derivative transaction. It was filed 4 days after the trade.
This filing was later replaced by the amendment 0001493152-23-009565 (Mar 29, 2023). Trade tables on this site use the amended version.
Reporting owners
A Form 4 can have several reporting owners, such as a person and a fund they control. Trade tables show the first one.
| Owner | Relationship to the company |
|---|---|
| Chan Heng Fai AmbroseCIK 0001261725 | Director, 10% Owner |
| Hapi Metaverse Inc.CIK 0001600347 | 10% Owner |
Non-derivative securities (Table I)
Acquisitions and disposals of common stock and similar shares, one row per line on the filing.
This filing has no transactions of this kind.
Derivative securities (Table II)
Options, warrants, restricted stock units and similar. Shares are the underlying shares; price and value are for the derivative itself, and the holding after is in derivative units.
| Trade date | Security | Transaction | Underlying shares | Unit price | Value | Held after | Ownership | Flags |
|---|---|---|---|---|---|---|---|---|
| Feb 23, 2023 | Common Stock | PPurchaseAcquired | +12,727,272 | $0.11F1 | +$1,399,999.92 | 12,727,272 | Indirect |
Footnotes and remarks
Livermore keeps the footnotes that transaction prices refer to, all footnotes of amendments (Form 4/A) and the filing's remarks. Other footnotes, such as how indirect holdings are held or the details of a trading plan, are only in the original on SEC EDGAR.
- F1
Refer Remark.
Referenced by the price of 1 transaction in Table II.
Remarks
Value Exchange International, Inc. ("VEII") entered into a Convertible Credit Agreement, dated as of January 27, 2023 ("Convertible Credit Agreement") with GigWorld Inc. ("GigWorld") and another potential lender. On February 23, 2023, GigWorld loaned VEII $1,400,000 (the "Loan Amount"). The Loan Amount can be converted into shares of VEII pursuant to the terms of the Convertible Credit Agreement for a period of three years. In the event that GigWorld converts this Loan Amount into shares of VEII Common Stock, the conversion price (the "Conversion Price") shall be the average closing price of VEII's Common Stock as quoted by Bloomberg Financial Markets (or a comparable reporting service of national reputation selected by VEII and reasonably acceptable to GigWorld if Bloomberg Financial Markets is not then reporting prices of VEII Common Stock) for the three (3) consecutive trading days prior to date of the notice of conversion delivered by GigWorld. For the purposes of estimating an exercise price, we assumed the closing price of VEII's shares of Common Stock on February 27, 2023: $0.11.