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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):  June 27, 2023

 

PLANET GREEN HOLDINGS CORP.
(Exact name of registrant as specified in its charter)

 

Nevada   001-34449   87-0430320
(State or other jurisdiction
of incorporation)		   (Commission File Number)   (IRS Employer
Identification No.)

 

130-30 31st Ave, Suite 512
Flushing, NY

  

11354

(Address of principal executive offices)   (Zip Code)

 

Registrant’s telephone number, including area code: (718) 799-0380

 

Not Applicable
(Former name or former address, if changed since last report)

 

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 (see General Instruction A.2. below):

 

☐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 $0.001 per share   PLAG   NYSE American

 

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. ☐

 

 

 

 

 

 

Item 1.01 Entry Into A Material Definitive Agreement.

 

On June 27, 2023, Planet Green Holdings Corp. (the “Company”) entered into a Securities Purchase Agreement with Bochuang (Hubei) New Energy Co., Ltd., a limited liability company registered in the People’s Republic of China (the “Purchaser”), pursuant to which, among other things and subject to the terms and conditions contained therein, the Purchaser agreed to effect securities purchase from the Company of 40% of the outstanding equity interests of Xianning Xiangtian Energy Holding Group Co., Ltd. (“Xianning Xiangtian”), and the Purchaser shall pay to the Company an aggregate of RMB 20,000,000 in exchange for 40% of the issued and outstanding shares of Xianning Xiangtian. Before the closing of this securities purchase transaction, the Company owns 40% equity interest of the Xianning Xiangtian. On June 27, 2023, the Company closed the securities purchase transaction.

 

In connection with the closing of the securities purchase transaction, the Company entered into a termination agreement with the Xianning Xiangtian and its shareholders to terminate the rights and obligations under the VIE arrangement.

 

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 securities purchase transaction is incorporated herein by reference.

 

Item 9.01 Financial Statements and Exhibits.

 

(d)Exhibits.

 

Exhibit No.   Description
10.1   Securities Purchase Agreement, dated as of June 27, 2023, by and among Planet Green Holdings Corp. and Bochuang (Hubei) New Energy Co., Ltd..
10.2   Termination Agreement dated June 27, 2023.
104   Cover Page Interactive Data File (embedded within the Inline XBRL document)

 

1

 

 

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: June 27, 2023 PLANET GREEN HOLDINGS CORP.
   
  By:   /s/ Bin Zhou  
  Name:  Bin Zhou
  Title:  Chief Executive Officer and Chairman

 

 

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