Greenpro Capital Corp. to Acquire Financial Advisory Firm

Ticker: GRNQ · Form: 8-K · Filed: 2024-12-06T00:00:00.000Z

Sentiment: neutral

Topics: acquisition, letter-of-intent, financial-services

TL;DR

Greenpro Capital Corp. is looking to buy a financial advisory firm, deal expected by March 2025.

AI Summary

Greenpro Capital Corp. announced on December 6, 2024, that it entered into a non-binding Letter of Intent (LOI) on December 5, 2024, to acquire 100% of the issued and outstanding shares of the target company, which is involved in the business of providing financial advisory services and solutions. The acquisition is expected to be completed by March 31, 2025, subject to due diligence and definitive agreements.

Why It Matters

This potential acquisition could expand Greenpro Capital Corp.'s service offerings in the financial advisory sector, potentially increasing its revenue streams and market reach.

Risk Assessment

Risk Level: medium — The acquisition is based on a non-binding LOI, and the actual completion depends on due diligence and definitive agreements, introducing uncertainty.

Key Players & Entities

FAQ

What is the primary business of the target company Greenpro Capital Corp. intends to acquire?

The target company is involved in the business of providing financial advisory services and solutions.

What is the ownership stake Greenpro Capital Corp. intends to acquire?

Greenpro Capital Corp. intends to acquire 100% of the issued and outstanding shares of the target company.

What is the date of the non-binding Letter of Intent?

The non-binding Letter of Intent was entered into on December 5, 2024.

What is the expected closing date for the acquisition?

The acquisition is expected to be completed by March 31, 2025.

What are the conditions for the completion of the acquisition?

The completion of the acquisition is subject to satisfactory due diligence and the execution of definitive agreements.

From the Filing

0001493152-24-048969.txt : 20241206 0001493152-24-048969.hdr.sgml : 20241206 20241206061522 ACCESSION NUMBER: 0001493152-24-048969 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 13 CONFORMED PERIOD OF REPORT: 20241206 ITEM INFORMATION: Other Events FILED AS OF DATE: 20241206 DATE AS OF CHANGE: 20241206 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Greenpro Capital Corp. CENTRAL INDEX KEY: 0001597846 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-MANAGEMENT CONSULTING SERVICES [8742] ORGANIZATION NAME: 07 Trade & Services IRS NUMBER: 981146821 STATE OF INCORPORATION: NV FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-38308 FILM NUMBER: 241530476 BUSINESS ADDRESS: STREET 1: B-7-5 NORTHPOINT OFFICE, MID VALLEY CITY STREET 2: NO.1, MEDAN SYED PUTRA UTARA CITY: 59200 KUALA LUMPUR STATE: N8 ZIP: 000000 BUSINESS PHONE: (603) 2201-3192 MAIL ADDRESS: STREET 1: B-7-5 NORTHPOINT OFFICE, MID VALLEY CITY STREET 2: NO.1, MEDAN SYED PUTRA UTARA CITY: 59200 KUALA LUMPUR STATE: N8 ZIP: 000000 FORMER COMPANY: FORMER CONFORMED NAME: Greenpro, Inc. DATE OF NAME CHANGE: 20140122 8-K 1 form8-k.htm false 0001597846 0001597846 2024-12-06 2024-12-06 iso4217:USD xbrli:shares iso4217:USD xbrli:shares       UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549   FORM 8-K   CURRENT REPORT Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934   Date of Report (Date of earliest event reported): December 6, 2024 (December 5, 2024)   GREENPRO CAPITAL CORP. (Exact name of registrant as specified in its charter)   Nevada   001-38308   98-1146821 (State or other jurisdiction of incorporation)   Commission File Number   (IRS Employer Identification No.)   B-23A-02, G-Vestor Tower, Pavilion Embassy, 200 Jalan Ampang, 50450 W.P. Kuala Lumpur , Malaysia (Address of principal executive offices) (Zip Code)   Registrant’s telephone number, including area code: (60) 3 8408-1788       Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the Registrant under any of the following provisions:   ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a -12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d -2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e -4(c))   Securities registered pursuant to Section 12(b) of the Act:   Title of each class   Trading Symbol(s)   Name of each exchange on which registered Common Stock, par value $0.0001   GRNQ   NASDAQ Capital Market   Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).   Emerging growth company ☐   If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐             Section 8 - Other Events   Item 8.01 Other Events.   On September 16, 2024, Greenpro Capital, Corp. (the “Company”) received notice from The NASDAQ Stock Market (“Nasdaq”) that, because the closing bid price for the Company’s common stock had fallen below $1.00 per share for 30 consecutive business days, the Company no longer complied with the minimum bid price requirement for continued listing on the Nasdaq Capital Market pursuant to the Nasdaq Listing Rule 5550(a)(2). Ho

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