M&A - ESG Inc.
Form Type: 10-K
Filing Date: 2025-04-15
Corporate Action: Merger
Type: New
Accession Number: 000152013825000120
Filing Summary: ESG Inc., originally incorporated as Plasma Innovative Inc., underwent a transformative merger with ESG Inc. on November 22, 2023, marking a significant shift in its business strategy from cold plasma agricultural applications to sustainable food production and distribution. The company issued 10,432,800 shares of its common stock to acquire 100% interest in ESG Inc. This transaction was accounted for as a recapitalization with ESGI being recognized as the accounting acquirer. Following the merger, Plasma Innovative Inc. officially changed its name to ESG Inc. as of February 23, 2024, and began trading under the symbol ESGH. The company operates through various subsidiaries, primarily within China, producing plant-based ingredients and food products, especially mushrooms. ESG Inc. also navigates a complex regulatory environment in China, particularly concerning overseas listings and cybersecurity measures, ensuring compliance to avoid potential operational and legal risks.
Additional details:
Business Overview: ESG Inc. develops and operates sustainable plant-based ingredients and food production, with significant experience in the mushroom and agriculture industries.
Share Exchange Agreement Date: 2023-11-06
Shares Issued: 10432800
Merger Completion Date: 2023-11-22
Surviving Entity: Plasma Innovative Inc.
Name Change Effective Date: 2024-02-23
Trading Symbol Change: PMIN to ESGH
Subsidiary Operations: The company operates through Funan Allied United Farmer Products Co., Ltd., which controls various Chinese agricultural companies.
Press Releases: Substantial future listings and mergers and acquisitions will be influenced by recent governance memos and regulations from Chinese authorities.
Regulatory Risks: Legal and operational risks associated with regulations in China may affect the company's value and operations.
Comments
No comments yet. Be the first to comment!