Skillful Craftsman Enters Note Purchase Agreement with Insiders
Ticker: EDTK · Form: 6-K · Filed: Sep 26, 2024 · CIK: 1782309
Sentiment: neutral
Topics: insider-transaction, debt-financing, agreement
TL;DR
Skillful Craftsman inked a promissory note deal with its Chairman, a director, and a major shareholder.
AI Summary
On September 24, 2024, Skillful Craftsman Education Technology Limited entered into a Promissory Note Purchase Agreement with major shareholder Mr. Xuejun Ji, director Mr. Peng Wang, and Chairman Mr. Bin Fu. The agreement involves the purchase of promissory notes, though specific dollar amounts and terms are not detailed in this filing.
Why It Matters
This transaction involves key individuals associated with the company, potentially impacting its financial structure and insider relationships.
Risk Assessment
Risk Level: medium — Transactions with related parties like major shareholders and directors can introduce conflicts of interest or unusual financial arrangements.
Key Players & Entities
- Skillful Craftsman Education Technology Limited (company) — Registrant
- Mr. Xuejun Ji (person) — Major Shareholder and party to agreement
- Mr. Peng Wang (person) — Director and party to agreement
- Mr. Bin Fu (person) — Chairman of the Board and party to agreement
- September 24, 2024 (date) — Date of Agreement
FAQ
What is the specific dollar amount of the promissory notes being purchased?
The filing does not specify the dollar amount of the promissory notes involved in the Promissory Note Purchase Agreement.
What are the terms and conditions of the Promissory Note Purchase Agreement?
The filing states that an agreement was entered into but does not detail the specific terms and conditions.
What is the relationship of Mr. Xuejun Ji to the company?
Mr. Xuejun Ji is identified as a major shareholder of Skillful Craftsman Education Technology Limited.
Who are the parties involved in the Promissory Note Purchase Agreement?
The parties are Skillful Craftsman Education Technology Limited, Mr. Xuejun Ji, Mr. Peng Wang, and Mr. Bin Fu.
When was the Promissory Note Purchase Agreement entered into?
The agreement was entered into on September 24, 2024.
Filing Stats: 355 words · 1 min read · ~1 pages · Grade level 12.9 · Accepted 2024-09-26 16:30:25
Key Financial Figures
- $1,000,000 — e Purchasers with a principal amount of $1,000,000 and a term of twelve (12) months (the &
Filing Documents
- form6-k.htm (6-K) — 21KB
- ex10-1.htm (EX-10.1) — 60KB
- ex10-2.htm (EX-10.2) — 24KB
- 0001493152-24-038317.txt ( ) — 107KB
From the Filing
SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13A-16 OR 15D-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the month of September 2024 Commission file number: 001-39360 SKILLFUL CRAFTSMAN EDUCATION TECHNOLOGY LIMITED Floor 4, Building 1, No. 311, Yanxin Road Huishan District, Wuxi Jiangsu Province, PRC 214000 (Address of Principal Executive Offices) Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F: Form 20-F Form 40-F INFORMATION CONTAINED IN THIS FORM 6-K REPORT On September 24, 2024, Skillful Craftsman Education Technology Limited, a Cayman Islands exempted company with limited liability (the “Company”), entered into a Promissory Note Purchase Agreement (the “Agreement”) with Mr. Xuejun Ji, a major shareholder of the Company, Mr. Peng Wang, a director of the Board of the Company (the “Board”) and Mr. Bin Fu, Chairman of the Board and Chief Executive Officer of the Company (the “Purchasers”). Pursuant to the Agreement, the Company sold Promissory Notes to the Purchasers with a principal amount of $1,000,000 and a term of twelve (12) months (the “Notes”). The Notes bear interest at the rate of 6% per annum, which are payable on September 23, 2025. The Notes were sold to the Purchasers pursuant to an exemption from registration under Regulation S, promulgated under the Securities Act of 1933, as amended. The foregoing description of the Agreement and Notes does not purport to be complete and is qualified in its entirety by reference to the complete text of Agreement and Form of Note, copies of which are filed as exhibits hereto and are incorporated herein by reference. Exhibits Index Exhibit No. Description 10.1 Promissory Note Purchase Agreement by and Between the Company and Purchasers dated September 24, 2024. 10.2 Form of Note SIGNATURE 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. SKILLFUL CRAFTSMAN EDUCATION TECHNOLOGY LIMITED (Registrant) By: /s/ Bin Fu Name: Bin Fu Title: Chief Executive Officer Date: September 26, 2024