Rito Group Corp. (OTCMKTS:RTTO) Files An 8-K Unregistered Sales of Equity Securities
Item 3.02. Unregistered Sales of Equity Securities.
On December 19, 2016, Rito Group Corp. (the Company) completed
the issuance and sale of an aggregate of 60,000 shares at a price
of $1.50 per share with each share consisting of one share of the
Companys common stock, par value $0.0001 per share (the Common
Stock) in a private placement to Ms. Zhang Hong, Ms. Deng Shu
Jun, Ms. Chan Siok Ling Shirley and Ms. Huang Qiao Fang.
(Collectively, the investors), to the Subscription Agreements
dated as of December 1, 2016 between the Company and the
investors. The net proceeds to the Company amounted to $90,000.
The $90,000 in proceeds went directly to the Company as working
capital.
The shares sold in the private placement were issued in reliance
on an exemption from registration under Section 4(a)(2) and/or
Regulation S of the Securities Act of 1933, as amended
(Regulation S). The bases for the availability of this exemption
include the facts that the sales of the stock were made to
non-U.S. persons (as defined under Rule 902 section (k)(2)(i) of
Regulation S), to offshore transactions, and no directed selling
efforts were made in the United States by the issuer, a
distributor, any of their respective affiliates, or any person
acting on behalf of any of the foregoing.
| Item 9.01 | Financial Statements And Exhibits |
| (a) |
Financial Statements of Business Acquired. |
| Not applicable | |
| (b) | Pro Forma Financial Information. |
| Not applicable | |
| (d) |
Exhibits. |
| Exhibit No. | Description | ||
| 10.1 | Form of Subscription Agreement dated as of December 1, 2016 |
About Rito Group Corp. (OTCMKTS:RTTO)
Rito Group Corp is an online retailer. The company was founded in March 2015 and is located in Hong Kong.
