Apollo Multi-Asset Growth Fund Discloses Stake in Mercurity Fintech

TL;DR

**New fund just bought a big chunk of Mercurity Fintech, watch for potential changes!**

AI Summary

Apollo Multi-Asset Growth Fund, a Hong Kong-based entity, has filed an initial SC 13D on January 5, 2024, disclosing a significant stake in Mercurity Fintech Holding Inc. This filing indicates that Apollo Multi-Asset Growth Fund now holds a reportable ownership position, triggering the requirement to disclose their intentions regarding the company. This matters to investors because a 13D filing often signals an activist investor or a significant change in ownership that could lead to strategic shifts, potential M&A activity, or other corporate actions that impact share value.

Why It Matters

This filing signals a new significant shareholder, Apollo Multi-Asset Growth Fund, which could influence Mercurity Fintech's future direction and stock performance.

Risk Assessment

Risk Level: medium — The filing itself doesn't detail the fund's intentions, creating uncertainty about potential future actions that could be positive or negative for the stock.

Analyst Insight

A smart investor would monitor future filings from Apollo Multi-Asset Growth Fund for Mercurity Fintech Holding Inc. to understand their intentions, as this initial 13D only signals a significant ownership stake without detailing plans.

Key Players & Entities

• Apollo Multi-Asset Growth Fund (company) — the entity filing the SC 13D, indicating a new significant shareholder
• Mercurity Fintech Holding Inc. (company) — the subject company in which Apollo Multi-Asset Growth Fund has acquired a stake
• Cheng Wan Wing (person) — the person authorized to receive notices for Apollo Multi-Asset Growth Fund
• $0.004 (dollar_amount) — the par value of Mercurity Fintech's Ordinary Shares
• November 30, 2023 (date) — the date of the event which required the filing of this statement

Forward-Looking Statements

• Apollo Multi-Asset Growth Fund will disclose its specific intentions regarding Mercurity Fintech Holding Inc. in a future amendment. (Apollo Multi-Asset Growth Fund) — medium confidence, target: Q1 2024
• Mercurity Fintech Holding Inc.'s stock price will experience increased volatility due to the new significant shareholder. (Mercurity Fintech Holding Inc.) — medium confidence, target: Q1 2024

FAQ

Key Financial Figures

• $0.004 — of Issuer) Ordinary Shares, par value $0.004 (Title of Class of Securities) G594
• $6,000,000 — hare consolidation) of the Issuer for US$6,000,000 from the investment fund. The agreement

Filing Documents

• sc13d.htm (SC 13D) — 59KB
• ex99-1.htm (EX-99.1) — 239KB
• signature.jpg (GRAPHIC) — 3KB
• signature2.jpg (GRAPHIC) — 1KB
• 0001099910-24-000018.txt ( ) — 307KB

Source and Amount of Funds or Other

Item 3. Source and Amount of Funds or Other Consideration. On November 30, 2023, Apollo Multi-Asset Growth Fund (the “Reporting Person”) entered into a Securities Purchase Agreement with Mercurity Fintech Holding Inc, a Cayman Islands company (the “Issuer”), pursuant to which Apollo Multi-Asset Growth Fund acquired 14,251,781 ordinary shares (pre-share consolidation) and warrants to purchase 42,755,344 ordinary shares (pre-share consolidation) of the Issuer for US$6,000,000 from the investment fund. The agreement completed on December 7 th 2023.

Purpose of Transaction

Item 4. Purpose of Transaction. The Reporting Person acquired the Shares for investment purposes and intends to review and evaluate its investment in the Company on a continuous basis. Depending upon various factors, including but not limited to the business, prospects and financial condition of the Reporting Person and the Issuer and other developments concerning Reporting Person and the Issuer, market conditions and other factors that the Reporting Person may deem relevant to its investment decision, and subject to compliance with applicable laws, rules and regulations, the Reporting Person may in the future take actions with respect to its investment in the Company as it deems appropriate with respect to any or all matters required to be disclosed in this Schedule 13D, including but not limited to increase or decrease its investment in the Company or engage in any hedging or other derivative transactions with respect to the Ordinary Shares.

Interest in Securities of the Issuer

Item 5.Interest in Securities of the Issuer. (a)-(b) The Reporting Person beneficially owned a total of 14,251,781 ordinary shares, constituting 23.433% of the total issued and outstanding ordinary shares; (c) Except as disclosed in this Statement, the Reporting Person did not effect any transaction with respect to the Ordinary Shares during the past 60 days. CUSIP No. G59467202 13D Page 4 of 5 Pages (d) Except as disclosed in this Statement, to the best knowledge of the Reporting Person, no person other than the Reporting Person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the Ordinary Shares beneficially owned by the Reporting Person. (e) Not applicable.

Contracts, Arrangements, Understandings

Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer. Securities Purchase Agreement is incorporated herein by reference. To the best knowledge of the Reporting Person, except as provided herein, there are no other contracts, arrangements, understandings or relationships (legal or otherwise) between the Reporting Person and any other person with respect to any securities of the Issuer, joint ventures, loan or option arrangements, puts or calls, guarantees of profits, divisions of profits or loss, or the giving or withholding of proxies, or a pledge or contingency, the occurrence of which would give another person voting power over the securities of the Issuer.

Material to be Filed as Exhibits

Item 7. Material to be Filed as Exhibits. Exhibit Description Exhibit 99.1 Securities Purchase Agreement among Mercurity Fintech Holding Inc and Apollo Multi-Asset Growth Fund, dated as of November 30, 2023 CUSIP No. G59467202 13D Page 5 of 5 Pages SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. /s/Cheng Wan Wing Cheng Wan Wing Director (Title) January 4, 2024 (Date)

View Full Filing

View this SC 13D filing on SEC EDGAR