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 a buyer to sell a convertible note (the “Note”) of the Company, in the form attached herewith, in the aggregate principal amount of $153,000.00. The maturity date of the Note is September 27, 2020 carrying a 6% annual interest.
The conversion price under the Note is 65% multiplied by the market price representing a discount rate of 35%. The reserved number of shares exercisable upon conversion of the Note will be initially 1,086,390 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.
|2.2||Convertible Promissory Note ($153,000 principal amount), Issue Date September 27, 2019|
NF Energy Saving Corp Exhibit
EX-2.1 2 f8k1019ex2-1_nfenergy.htm SECURITIES PURCHASE AGREEMENT BETWEEN THE REGISTRANT AND POWER UP LENDING GROUP LTD. DATED SEPTEMBER 27,…
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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.