Business Context and Reporting Period
This Form 6-K filing by Dragon Victory International Limited (associated with Metalpha Technology Holding Ltd) covers the month of March 2022, specifically dated March 3, 2022. The report details amendments to material definitive agreements regarding a securities purchase and registration rights.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on legal contract amendments rather than financial performance data.
Material Changes Versus Prior Period
The primary material change involves the extension of deadlines for the "2nd Closing Purchasers" under existing agreements:
- Securities Purchase Agreement (SPA): The closing deadline for the 2nd Closing Purchasers was extended to occur no later than 12 months following the effective date of the Registration Statements covering the resale of the 2nd Closing Subscribed Shares.
- Registration Rights Agreement (RRA): The Effectiveness Deadline for the 2nd Closing Registration Statement was extended to no later than 16 months from the date of the original RRA. The Filing Deadline was extended to no later than 12 months from the date of the original RRA.
Guidance, Outlook, and Risks
Management commentary is limited to the execution of Amendment No. 1 to both the SPA and RRA. The filing does not provide specific forward-looking guidance, risk factors, or contingencies beyond the contractual obligations to file registration statements within the newly extended timelines. The full text of the amendments is incorporated by reference as Exhibits 10.1 and 10.2.
Investor Verification Checklist
- Verify the status of the Registration Statements for the 2nd Closing Subscribed Shares to ensure they are filed within the new 12-month deadline.
- Confirm the identity and commitment of the "2nd Closing Purchasers" (including LSQ Investment Fund SPC-Disruptive Opportunity Fund II SP) to close the transaction within the extended timeframe.
- Review the full text of Amendment No. 1 to the Securities Purchase Agreement (Exhibit 10.1) and Amendment No. 1 to the Registration Rights Agreement (Exhibit 10.2) for any additional covenants or conditions not summarized in this filing.