M&A - Lakeside Holding Ltd

Form Type: DEF 14C

Filing Date: 2025-04-01

Corporate Action: Acquisition

Type: New

Accession Number: 000121390025026619

Filing Summary: Lakeside Holding Limited is filing a definitive information statement to inform stockholders of a corporate action taken via written consent by shareholders representing approximately 76% of the voting power. This action includes the approval of a Convertible Note Financing, allowing the company to raise up to $4.5 million through the issuance of 7% original issue discount convertible promissory notes in multiple tranches. The approval is necessary under Nasdaq Listing Rule 5635(d), which stipulates that stockholder approval is required for sales of securities that could amount to 20% or more of the company's common stock at prices below certain thresholds. The corporate action will become effective on or around April 21, 2025. The document provides detailed information on the structure of the financing, including the issuance terms of the convertible notes and accompanying warrants, obligations regarding payment and conversion, and the expected effects on stockholder equity.

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