Ostin Tech Signs Securities Purchase Agreement
Ticker: OST · Form: 6-K · Filed: Jun 27, 2024 · CIK: 1803407
| Field | Detail |
|---|---|
| Company | Ostin Technology Group Co., Ltd. (OST) |
| Form Type | 6-K |
| Filed Date | Jun 27, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 4 min |
| Key Dollar Amounts | $1,360,000, $1,250,000, $0.0001, $100,000, $10,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: securities-purchase-agreement, financing, company-announcement
TL;DR
Ostin Tech inked a deal with Streeterville Capital for securities purchase on June 21st.
AI Summary
On June 21, 2024, Ostin Technology Group Co., Ltd. entered into a Securities Purchase Agreement with Streeterville Capital, LLC. This agreement outlines the terms for the purchase of securities by Streeterville Capital, LLC from Ostin Technology Group.
Why It Matters
This agreement could impact Ostin Technology's capital structure and future funding, potentially affecting its stock price and operational capacity.
Risk Assessment
Risk Level: medium — The nature of a securities purchase agreement can introduce financial risks and uncertainties for the company involved.
Key Players & Entities
- Ostin Technology Group Co., Ltd. (company) — Registrant and party to the agreement
- Streeterville Capital, LLC (company) — Buyer in the securities purchase agreement
- June 21, 2024 (date) — Date of the Securities Purchase Agreement
FAQ
What type of securities are being purchased under the agreement?
The filing does not specify the exact type of securities involved in the purchase agreement.
What is the total value of the securities purchase agreement?
The filing does not disclose the dollar amount of the securities purchase agreement.
What are the specific terms and conditions of the Securities Purchase Agreement?
The filing mentions the agreement but does not detail its specific terms and conditions beyond the parties involved and the date.
What is the jurisdiction of Streeterville Capital, LLC?
Streeterville Capital, LLC is identified as a Utah limited liability company.
When was the Securities Purchase Agreement entered into?
The Securities Purchase Agreement was entered into on June 21, 2024.
Filing Stats: 956 words · 4 min read · ~3 pages · Grade level 13.6 · Accepted 2024-06-27 16:30:26
Key Financial Figures
- $1,360,000 — Note”) in the principal amount of $1,360,000, at a purchase price of $1,250,000. The
- $1,250,000 — t of $1,360,000, at a purchase price of $1,250,000. The Note is convertible into class A o
- $0.0001 — into class A ordinary shares, par value $0.0001 per share (“Class A Ordinary Shar
- $100,000 — includes an original issue discount of $100,000, along with $10,000 for the Buyer&rsquo
- $10,000 — issue discount of $100,000, along with $10,000 for the Buyer’s legal fees, accou
- $0.086 — of determination, but not lower than US$0.086 (or such lower amount as permitted, fro
- $500,000.00 — ption Amount (which is the lower of (i) $500,000.00 per calendar month, or (ii) the Outstan
Filing Documents
- ea0208186-6k_ostintech.htm (6-K) — 18KB
- ea020818601ex4-1_ostintech.htm (EX-4.1) — 71KB
- ea020818601ex5-1_ostintech.htm (EX-5.1) — 76KB
- ea020818601ex10-1_ostintech.htm (EX-10.1) — 131KB
- ex5-1_001.jpg (GRAPHIC) — 2KB
- ex5-1_002.jpg (GRAPHIC) — 2KB
- 0001213900-24-056684.txt ( ) — 303KB
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. Ostin Technology Group Co., Ltd. By: /s/ Tao Ling Name: Tao Ling Title: Chief Executive Officer Date: June 27, 2024 3