Focus Universal Inc. Files 8-K: Material Agreement and Other Events

TL;DR

FOCUS files 8-K for material agreement, other events, and financials. Details pending.

AI Summary

On September 15, 2024, Focus Universal Inc. entered into a material definitive agreement. The company also reported other events and filed financial statements and exhibits as part of this 8-K filing. Specific details of the agreement and financial information were not provided in the excerpt.

Why It Matters

This filing indicates a significant new agreement for Focus Universal Inc., which could impact its business operations and financial standing. Investors should monitor for further details on the nature and implications of this agreement.

Risk Assessment

Risk Level: medium — The filing indicates a material definitive agreement, which could represent significant opportunities or risks for the company, but the lack of specific details necessitates a medium risk assessment.

Key Players & Entities

• Focus Universal Inc. (company) — Registrant
• September 15, 2024 (date) — Date of Earliest Event Reported
• Nevada (jurisdiction) — State of Incorporation
• 2311 East Locust Street Ontario, California 91761 (address) — Principal Executive Offices
• (626) 272-3883 (phone_number) — Registrant's Telephone Number

FAQ

Key Financial Figures

• $0.001 — nge on which registered Common stock, $0.001 par value per share FCUV The Nasdaq S
• $0.32 — purchase price of each Common Share is $0.32. The Offering is being made pursuant t
• $1,068,000 — yable by the Company, are approximately $1,068,000. Proceeds from the offering will be use
• $30,000 — received in the Offering and reimburse $30,000 of accountable expenses. Item 8.01 Ot
• $1.2 million — ess release announcing the pricing of a $1.2 million registered direct offering. A copy of t

Filing Documents

• focus_8k.htm (8-K) — 30KB
• focus_ex0501.htm (EX-5.1) — 12KB
• focus_ex1001.htm (EX-10.1) — 97KB
• focus_ex1002.htm (EX-10.2) — 226KB
• focus_ex9901.htm (EX-99.1) — 11KB
• image_001.jpg (GRAPHIC) — 5KB
• image_002.jpg (GRAPHIC) — 8KB
• 0001683168-24-006445.txt ( ) — 648KB
• fcuv-20240915.xsd (EX-101.SCH) — 3KB
• fcuv-20240915_lab.xml (EX-101.LAB) — 33KB
• fcuv-20240915_pre.xml (EX-101.PRE) — 22KB
• focus_8k_htm.xml (XML) — 3KB

01

Item 1.01 Entry into a Material Definitive Agreement. On September 15, 2024, Focus Universal Inc. (the "Company", "we", "us" or "our") entered into a placement agency agreement (the "Placement Agency Agreement"), with Univest Securities, LLC (the "Placement Agent"). Pursuant to the Placement Agency Agreement, the Placement Agent agrees to use its reasonable best efforts to sell the Company's common stock, par value $0.001 per share (the "Common Stock") in a registered direct offering (the "Offering"). The Placement Agent has no obligation to buy any of the securities from us or to arrange for the purchase or sale of any specific number or dollar amount of securities. In the Offering, an aggregate of 3,750,000 shares of Common Stock (the "Common Shares") of the Company are sold to certain institutional purchaser, pursuant to a securities purchase agreement, dated September 15, 2024 (the "Securities Purchase Agreement"). The purchase price of each Common Share is $0.32. The Offering is being made pursuant to a shelf registration statement (No. 333-260180) on Form S-3, which was declared effective by the U.S. Securities and Exchange Commission on November 16, 2021, and related prospectus supplement. The gross proceeds from the Offering, after deducting placement agent discounts, commissions, and estimated offering expenses payable by the Company, are approximately $1,068,000. Proceeds from the offering will be used, in part , to continue to build and launch the new software product platform under Lusher Inc. Pursuant to the Placement Agency Agreement, the Company has agreed to pay the Placement Agent a total cash fee equal to 7.0% of the aggregate gross proceeds received in the Offering and reimburse $30,000 of accountable expenses.

01

Item 8.01 Other Events. On September 16, 2024, the Company issued a press release announcing the pricing of a $1.2 million registered direct offering. A copy of the Press Release is furnished as Exhibit 99.1 hereto.

Financial Statements and Exhibits

Financial Statements and Exhibits (d) Exhibits Exhibit No. Description 5.1 Opinion of Corporate Securities Legal LLP 10.1 Placement Agency Agreement, dated September 15, 2024 10.2 Form of Securities Purchase Agreement between the Company and certain Purchaser, dated September 15, 2024 99.1 Press Release Dated September 16, 2024 104 Cover Page Interactive Data File, formatting Inline Extensible Business Reporting Language (iXBRL). 2 SIGNATURE Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: September 17, 2024 FOCUS UNIVERSAL, INC. By: /s/ Desheng Wang Name: Desheng Wang Title: Chief Executive Officer 3

View Full Filing

View this 8-K filing on SEC EDGAR