NF ENERGY SAVING CORPORATION (NASDAQ:NFEC) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01. Entry into a Material Definitive Agreement.
The Registrant entered into an agreement with Crown Bridge Partners LLC, to sell a convertible note (the “Note”) of the Company, in the form attached herewith, in the aggregate principal amount of $101,500.00. The Note has a maturity date of November 15, 2020 and carries 6% annual interest.
The conversion price under the Note is 65% multiplied by the market price of the Registrant’s Common Stock representing a discount rate of 35%. The reserved number of shares exercisable upon conversion of the Note will be initially 250,000 shares, provided that the holder of the Note may not become more than a 4.99% holder of the outstanding shares of Common Stock of the Registrant, all as defined, qualified and more fully described in the agreement and in the Note filed herewith, and subject to regulatory approvals.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
| 2.1 | Securities Purchase Agreement between the Registrant and Crown Bridge Partners LLC, dated November 15, 2019 |
| 2.2 | Convertible Promissory Note ($101,500 principal amount), Issue Date November 15, 2019 |
NF Energy Saving Corp Exhibit
EX-2.1 2 f8k101519aex2-1_nfenergy.htm SECURITIES PURCHASE AGREEMENT BETWEEN THE REGISTRANT AND CROWN BRIDGE PARTNERS LLC. DATED NOVEMBER 15,…
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About NF ENERGY SAVING CORPORATION (NASDAQ:NFEC)
NF Energy Saving Corporation is a provider of energy services. The Company’s principal business is the production and sales of energy-saving flow control equipment, and intelligent flow control equipment. The Company operates through two segments: Heavy manufacturing business and Energy-saving related business. The Heavy manufacturing business segment includes production of valves components and the provision of valve improvement and engineering services. The Energy-saving related business segment includes provision of energy-saving related re-engineering and technical services, and long-term construction project. It provides equipment related to desulfurization, denitration and dust removal for electric power generation, metallurgy, petrochemical, steel, cement and heating supply industries, and provides consulting services, such as energy efficiency optimization design, energy consuming equipment retrofit and engineering, equipment maintenance and services, and energy management.