Bon Natural Life Ltd.

01/20/2023 | Press release | Distributed by Public on 01/20/2023 15:52

Closing of Private Offering of Shares and Warrants - Form 6-K

Closing of Private Offering of Shares and Warrants

On January 17, 2022, we closed a private offering of ordinary shares and warrants to purchase ordinary shares. A total of 2,750,000 ordinary shares (the "Shares") were issued to a total of five (5) investors (the "Investors") at a subscription price of $0.80 per share, for total subscription proceeds of $2,200,000. In addition, for each share subscribed for by the Investors, we issued one (1) warrant to purchase one (1) ordinary share at an exercise price of $0.88 per share, exercisable for a period of twenty-four (24) months (the "Warrants"). We have agreed to register the Investors' re-sale of the Shares by way of a prospectus supplement to our currently effective unallocated shelf registration statement on Form F-3, (SEC File No. 333-267116). The offer and sale of the Shares and the Warrants was exempt under Rule 506 of Regulation D under the Securities Act of 1933 (the "Securities Act"). We engaged in no general solicitation or advertising with regard to the offering and the offering was made solely to "Accredited Investors" as defined in Rule 501 of Regulation D under the Securities Act.

Following the close of the offering we will have a total of 11,146,226 ordinary shares issued and outstanding.


The following exhibits are included in this Form 6-K:

Exhibit No. Description of Exhibit
10.1 Form of Subscription Agreement
10.2 Form of Warrant