Securities code: 002489 securities abbreviation: Yotrio Group Co.Ltd(002489) Announcement No.: 2022-003 Yotrio Group Co.Ltd(002489)
Announcement on the progress of foreign investment
All directors, supervisors and senior managers of the company guarantee that the contents of the announcement are true, accurate and complete, and are jointly and severally liable for false records, misleading statements or major omissions in the announcement.
1、 Overview of foreign investment
Blue worldacquisition Corporation invested by blue world Holdings Limited (hereinafter referred to as “Bluestar Holdings”), the holding subsidiary of Yongqiang (Hong Kong) Co., Ltd., a wholly-owned subsidiary of Yotrio Group Co.Ltd(002489) (hereinafter referred to as “the company”), was listed on the Nasdaq Stock Exchange on January 31, 2022, Code: bwaqu. Bluestar’s documents related to this offering can be found on the website of the securities and Exchange Commission of the United States（ https://www.sec.gov ）Consult.
For details of Bluestar holding’s investment in Bluestar, the company published in securities times, China Securities Journal, Shanghai Securities News, securities daily and cninfo.com on August 18, 2021 info. com. cn. Announcement on investment in subsidiaries (Announcement No.: 2021-040).
2、 This offering
Before the offering of Bluestar, Bluestar holdings subscribed for all 2.3 million class B shares with its own capital of US $25000. 1. Public offering
Bluestar’s public offering of 9.2 million units (including over subscription) at a price of $10 per unit includes: one class a common share, half redeemable warrants (0.5 class a common shares can be subscribed), and a right to obtain 0.1 class a common shares after the completion of the first business merger.
2. Private placement (including over subscription and purchase by private placement at the end of this offering)
Bluestar holdings purchased a total of 37848 private units at US $10 per unit, with a total purchase price of US $3784800. The underwriter maxxim Group LLC purchased a total of 46000 private units at US $10 per unit, with a total purchase price of US $460000.
Each private entity also includes one class a common share, one-half redeemable warrants (0.5 class a common shares can be subscribed), and a right to acquire 0.1 class a common shares after the completion of the first business merger.
After the issuance, the remaining 920000 US dollars will be deposited into the account of Bluestar trust and the daily expenses of the company. If the M & a period exceeds 12 months, an additional fund of US $920000 will be required to the trust account for each extension of 3 months. During the liquidation of Bluestar company, the holders of publicly offered shares have priority to receive the funds from the trust account. The private unit shares held by private investors and the original shares held by the company’s promoters are in the inferior liquidation order.
For details about Bluestar’s issuance, please refer to the website of the CSRC（ https://www.sec.gov ）Application for registration and other documents published on.
3、 Other instructions
The blue star company listed this time is a special purpose acquisition company invested and established overseas. “Special Purpose Acquisition Corporation” in English means Special Purpose Acquisition Corporation, or SPAC for short. It uses the funds raised in the securities market to carry out equity and asset mergers and acquisitions, and works with the management team to achieve long-term development goals. The IPO public offering investors of the company can choose to redeem or continue to hold the shares of the listed company according to the corresponding shares of the trust account during the first merger and acquisition of the company. The establishment of SPAC and listing of subsidiaries through overseas companies is an attempt of financial innovation of the company, and the impact of this behavior on the future of the company is uncertain.
There is a risk of liquidation due to the failure to find a suitable investment project within the M & a period; Due to the influence of macro-economy, industry cycle, operation and management of the investment target company, transaction scheme design and other factors, if the investment target and transaction scheme cannot be fully and effectively demonstrated before investment and managed after investment, it will face the risk of failing to realize the expected investment income; At the same time, this investment also faces the impact of relevant uncertain factors such as exchange rate risk, policy risk and repeated epidemic risk, as well as the timing of project exit, which will affect the final investment income.
Please pay attention to investment risks.
It is hereby announced.
February 6, 2002
