Planet Green Holdings Corp. Completes Acquisition
Ticker: PLAG · Form: 8-K · Filed: Dec 11, 2024 · CIK: 1117057
| Field | Detail |
|---|---|
| Company | Planet Green Holdings Corp. (PLAG) |
| Form Type | 8-K |
| Filed Date | Dec 11, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: acquisition, definitive-agreement, financials
TL;DR
Planet Green Holdings Corp. just closed a deal, filing an 8-K with financials.
AI Summary
Planet Green Holdings Corp. announced on December 11, 2024, the completion of an acquisition. The filing indicates the entry into a material definitive agreement and the completion of the acquisition or disposition of assets. Financial statements and exhibits related to this event are also included.
Why It Matters
This filing signifies a significant corporate action for Planet Green Holdings Corp., potentially impacting its business operations, financial structure, and future growth prospects.
Risk Assessment
Risk Level: medium — Acquisitions inherently carry risks related to integration, financing, and market reception, which could impact the company's performance.
Key Players & Entities
- Planet Green Holdings Corp. (company) — Registrant
- December 11, 2024 (date) — Date of earliest event reported
- Nevada (jurisdiction) — State of incorporation
- 001-34449 (company_id) — SEC File Number
FAQ
What specific assets or business was acquired by Planet Green Holdings Corp.?
The filing indicates the completion of an acquisition or disposition of assets but does not specify the exact nature of the assets or business involved.
What is the financial impact of this acquisition on Planet Green Holdings Corp.?
The filing states that financial statements and exhibits are included, suggesting that financial details of the acquisition's impact will be available within those documents.
When was the material definitive agreement entered into?
The filing does not explicitly state the date the material definitive agreement was entered into, only that the report is current as of December 11, 2024, and reports on the completion of the acquisition.
What was the former name of Planet Green Holdings Corp.?
The filing lists former names including 'American Lorain CORP' and 'American CORP' with name change dates in August 2007.
Where is Planet Green Holdings Corp. headquartered?
Planet Green Holdings Corp.'s business address is listed as 130-30 31ST AVE, SUITE 512, FLUSHING, NY 11354.
Filing Stats: 611 words · 2 min read · ~2 pages · Grade level 11.2 · Accepted 2024-12-11 16:00:26
Key Financial Figures
- $0.001 — h registered Common Stock, par value $0.001 per share PLAG NYSE American Indi
Filing Documents
- ea0224419-8k_planet.htm (8-K) — 28KB
- ea022441901ex10-1_planet.htm (EX-10.1) — 57KB
- 0001213900-24-107874.txt ( ) — 265KB
- plag-20241211.xsd (EX-101.SCH) — 3KB
- plag-20241211_lab.xml (EX-101.LAB) — 33KB
- plag-20241211_pre.xml (EX-101.PRE) — 22KB
- ea0224419-8k_planet_htm.xml (XML) — 4KB
01 Entry Into A Material Definitive Agreement
Item 1.01 Entry Into A Material Definitive Agreement. On December 11, 2022, Jiayi Technologies (Xianning) Co., Ltd. (the " Jiayi "), a whole owned subsidiary of Planet Green Holdings Corp. (the " Company "), entered into a Termination Agreement (the " Termination Agreement ") with Xiaodong Cai , Yongshen Chen (the " Shareholders ") and Jilin Chuangyuan Chemical Co., Ltd. (the " Jilin Chuangyuan "), pursuant to which, among other things and subject to the terms and conditions contained therein, Jiayi, the Shareholders and Jilin Chuangyuan agreed to terminate all of the rights and obligations under the Amended and Restated Business Cooperation Agreement, the Consultation and Service Agreement, the Equity Option Agreement, the Equity Pledge Agreement, and the Proxy Agreement (collectively, the "VIE Agreements") entered among and between Jiayi, the Shareholders and Jilin Chuangyuan on November 30, 2021. As a result of the completion of the transaction, the Company no longer consolidates Jilin Chuangyuan's financial statements into the financial statements of the Company for accounting purpose. The transaction was completed on December 11, 2024.
01 Completion of Acquisition or Disposition of Assets
Item 2.01 Completion of Acquisition or Disposition of Assets. The information set forth in Item 1.01 above relating to the closing of the VIE Agreements termination transaction is incorporated herein by reference.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 10.1 Termination Agreement among and between Jiayi (Xianning) Technologies Co., Ltd., Xiaodong Cai, Yongsheng Chen and Jilin Chuangyuan Chemical Co., Ltd. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 1
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, hereunto duly authorized. Dated: December 11, 2024 PLANET GREEN HOLDINGS CORP. By: /s/ Bin Zhou Name: Bin Zhou Title: Chief Executive Officer and Chairman 2