Business Context and Reporting Period
This Form 6-K filing by Xiaobai Maimai Inc. (referred to in metadata as Akso Health Group) covers the month of September 2021, with a filing date of September 13, 2021. The report discloses an amendment to a Material Definitive Agreement, specifically a Securities Purchase Agreement (SPA) entered into on August 9, 2021.
Key Financial Metrics
The filing does not provide standard financial performance metrics such as revenue, profit, cash flow, margins, or debt levels. The only financial data disclosed relates to a specific capital raising transaction:
- Aggregate Purchase Price: Approximately $10.02 million.
- Units Sold: 6,340,000 units.
- Price Per Unit: $1.58.
- Warrant Exercise Price: $3.00.
Material Changes
The primary material change disclosed is a correction to the August 9, 2021 SPA due to a clerical error. The original agreement incorrectly stated that each Unit consisted of one ordinary share. The September 8, 2021 Amendment corrected this to reflect that each Unit consists of three ordinary shares. All other terms of the SPA remain unchanged.
Guidance, Outlook, and Risks
The filing contains no management commentary, financial guidance, or outlook for future periods. No specific risks or contingencies are detailed beyond the correction of the contractual error regarding the share composition of the Units.
Investor Verification Checklist
- Verify the corrected share-to-warrant ratio (3 shares per unit) in the attached Exhibit 99.1.
- Confirm the total capital raised of approximately $10.02 million has been received.
- Review the original August 9, 2021 SPA to understand the full context of the clerical error.
- Note that this filing does not contain operational or financial performance data for the period.