Pop Culture Group Acquires 98% of Yi Caishen Trading
Ticker: CPOP · Form: 6-K · Filed: Jul 12, 2024 · CIK: 1807389
| Field | Detail |
|---|---|
| Company | Pop Culture Group CO., LTD (CPOP) |
| Form Type | 6-K |
| Filed Date | Jul 12, 2024 |
| Risk Level | medium |
| Pages | 1 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.01, $1,100,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: acquisition, china, expansion
TL;DR
Pop Culture Group just bought 98% of Yi Caishen Trading Co. on July 11th. Details on price not disclosed.
AI Summary
On July 11, 2024, Pop Culture Group Co., Ltd. completed the acquisition of 98% of Yi Caishen (Xiamen) Trading Co., Ltd. for an undisclosed amount. This acquisition was made through a share purchase agreement, and Pop Culture Group is a Cayman Islands company with its principal executive offices in Xiamen, China.
Why It Matters
This acquisition signifies Pop Culture Group's expansion into the Chinese market through a significant stake in a local trading company, potentially impacting its future revenue streams and market presence.
Risk Assessment
Risk Level: medium — The acquisition involves a significant stake in a foreign entity, and the lack of disclosed financial terms introduces uncertainty regarding the deal's valuation and potential impact.
Key Numbers
- 98% — Acquisition Stake (Pop Culture Group acquired 98% of Yi Caishen (Xiamen) Trading Co., Ltd.)
Key Players & Entities
- Pop Culture Group Co., Ltd (company) — Acquiring company
- Yi Caishen (Xiamen) Trading Co., Ltd. (company) — Target company
- July 11, 2024 (date) — Acquisition closing date
- 98% (dollar_amount) — Percentage of share capital acquired
FAQ
What was the total purchase price for the 98% stake in Yi Caishen (Xiamen) Trading Co., Ltd.?
The filing does not disclose the specific purchase price for the acquisition.
When did the acquisition of Yi Caishen (Xiamen) Trading Co., Ltd. officially close?
The acquisition closed on July 11, 2024.
What is the primary business of Yi Caishen (Xiamen) Trading Co., Ltd.?
The filing identifies Yi Caishen (Xiamen) Trading Co., Ltd. as a limited liability company incorporated in China, but does not specify its primary business activities.
Under which act is Pop Culture Group Co., Ltd. filing this report?
Pop Culture Group Co., Ltd. is filing this report pursuant to Rule 13a-16 or 15d-16 under the Securities Exchange Act of 1934.
What is the fiscal year end for Pop Culture Group Co., Ltd.?
The fiscal year end for Pop Culture Group Co., Ltd. is June 30.
Filing Stats: 396 words · 2 min read · ~1 pages · Grade level 11.5 · Accepted 2024-07-12 16:05:04
Key Financial Figures
- $0.01 — 00 Class A ordinary shares, par value US$0.01 per share, with an aggregate value of $
- $1,100,000 — 1 per share, with an aggregate value of $1,100,000, to Shaorong Zheng as consideration for
Filing Documents
- ea0209348-6k_popculture.htm (6-K) — 15KB
- 0001213900-24-061025.txt ( ) — 16KB
SIGNATURES
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. Pop Culture Group Co., Ltd Date: July 12, 2024 By: /s/ Zhuoqin Huang Name: Zhuoqin Huang Title: Chief Executive Officer 2