Visionary Holdings Inc. Signs Securities Purchase Agreement
Ticker: GV · Form: 6-K · Filed: Oct 3, 2024 · CIK: 1892274
| Field | Detail |
|---|---|
| Company | Visionary Holdings Inc. (GV) |
| Form Type | 6-K |
| Filed Date | Oct 3, 2024 |
| Risk Level | medium |
| Pages | 4 |
| Reading Time | 4 min |
| Key Dollar Amounts | $6,000,000, $1,000,000, $4, $900,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: securities-purchase-agreement, capital-raise, company-update
TL;DR
Visionary Holdings Inc. just signed a deal to sell securities to an investor.
AI Summary
On October 2, 2024, Visionary Holdings Inc. entered into a Securities Purchase Agreement (SPA) with an accredited investor to issue securities. The company, formerly known as Visionary Education Technology Holdings Group Inc., is based in Toronto, Canada, and operates in the educational services sector.
Why It Matters
This agreement signifies a potential capital raise or strategic partnership for Visionary Holdings Inc., which could impact its future operations and growth.
Risk Assessment
Risk Level: medium — Entering into a securities purchase agreement can indicate a need for capital or a change in ownership structure, which carries inherent risks.
Key Players & Entities
- Visionary Holdings Inc. (company) — Filer of the 6-K report and party to the SPA
- October 2, 2024 (date) — Date of the Securities Purchase Agreement
- Securities Purchase Agreement (SPA) (agreement) — The material definitive agreement entered into by the company
- Visionary Education Technology Holdings Group Inc. (company) — Former name of Visionary Holdings Inc.
- Toronto, Ontario, Canada (location) — Location of the company's principal executive offices
FAQ
What is the nature of the securities being issued under the SPA?
The filing does not specify the type or quantity of securities being issued under the Securities Purchase Agreement.
Who is the accredited investor that entered into the SPA?
The filing refers to the counterparty as 'an accredited investor' but does not disclose their specific identity.
What is the purpose of Visionary Holdings Inc. entering into this SPA?
The filing states the company entered into the SPA to issue securities, but the specific purpose for the issuance is not detailed.
When did Visionary Holdings Inc. change its name from Visionary Education Technology Holdings Group Inc.?
The company's name change from Visionary Education Technology Holdings Group Inc. occurred on February 8, 2024.
What is the SIC code for Visionary Holdings Inc.?
The Standard Industrial Classification (SIC) code for Visionary Holdings Inc. is 8200, which falls under SERVICES-EDUCATIONAL SERVICES.
Filing Stats: 1,110 words · 4 min read · ~4 pages · Grade level 14.5 · Accepted 2024-10-03 16:11:03
Key Financial Figures
- $6,000,000 — aggregate original principal amount of $6,000,000 (the “Notes”). At the closi
- $1,000,000 — te in the aggregate principal amount of $1,000,000 (the “Initial Note”). In ac
- $4 — version price equal to the lower of (i) $4.00, and (ii) the greater of (x) the flo
- $900,000 — original issue discount, the Buyer paid $900,000 for the Initial Note, less certain fees
Filing Documents
- visionary_6k.htm (6-K) — 22KB
- visionary_1001.htm (EX-10.1) — 402KB
- visionary_1002.htm (EX-10.2) — 334KB
- visionary_1003.htm (EX-10.3) — 158KB
- visionary_1004.htm (EX-10.4) — 196KB
- visionary_1005.htm (EX-10.5) — 521KB
- visionary_1006.htm (EX-10.6) — 123KB
- image_001.jpg (GRAPHIC) — 5KB
- image_002.jpg (GRAPHIC) — 4KB
- image_003.jpg (GRAPHIC) — 4KB
- image_004.jpg (GRAPHIC) — 6KB
- image_005.jpg (GRAPHIC) — 3KB
- image_006.jpg (GRAPHIC) — 2KB
- image_007.jpg (GRAPHIC) — 3KB
- image_008.jpg (GRAPHIC) — 3KB
- 0001683168-24-006891.txt ( ) — 1801KB
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, thereto duly authorized. VISIONARY HOLDINGS INC. /s/ Xiyong Hou Xiyong Hou Date: October 3, 2024 Chief Executive Officer 3 EXHIBIT INDEX Exhibit Number Description 10.1 Form of Securities Purchase Agreement 10.2 Form of Senior Secured Convertible Promissory Note 10.3 Form of Pledge Agreement 10.4 Form of Registration Rights Agreement 10.5 Form of Security Agreement 10.6 Form of Guaranty 4