UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

Form 6-K

 

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

 

For the month of April 2021

 

Commission File Number: 001-38309

 

AGM GROUP HOLDINGS INC.

(Translation of registrant’s name into English)

 

c/o Creative Consultants (Hong Kong) Limited

Room 1502-3 15/F., Connuaght Commercial Building, 185 Wanchai Road

Wanchai, Hong Kong

+86-010-65020507 – telephone

(Address of principal executive office)

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

 

Form 20-F ☒      Form 40-F ☐

 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐

 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):  ☐

 

 

 

 

 

 

   

As previously disclosed in the current report on Form 6-K filed with the SEC on January 22, 2020, on January 16, 2020, Tianjin AnGaoMeng Construction Development Co., Ltd. (formerly Shenzhen AnGaoMeng Construction Development Co., Ltd.) (“AGM Tianjin”), a PRC company and a wholly-owned subsidiary of AGM Group Holdings Inc. (“AGM Holdings”), entered into an equity transfer agreement (the “Equity Transfer Agreement”) with all the shareholders (the “Sellers” and together with AGM Tianjin, the “Parties”) of Yushu Kingo City Real Estate Development Co., Ltd. (“Yushu Kingo”), who collectively owns 100% of the equity interest in Yushu Kingo, pursuant to which agreement, in exchange for 100% of the equity interest in Yushu Kingo, AGM Tianjin agreed to pay $20,000,000 in cash (the “Cash Payment”) and cause AGM Holdings to issue 2,000,000 Class A ordinary shares, valued at $15 per share, subject to the terms and conditions of the Agreement. As of the date of this report, AGM Tianjin has made advance payments in the amount of $4,937,663.72 (the “Advance Payments”). 

 

On April 6, 2021, the parties entered into a supplement agreement (“Supplement Agreement”) to the Equity Transfer Agreement. Pursuant to the Supplement Agreement, if AGM Tianjin decides not to proceed with the acquisition contemplated by the Equity Transfer Agreement and terminate such agreement on or before October 31, 2021, the Sellers shall return the Advance Payment and pay an additional 10% interest to AGM Tianjin. If the Sellers are unable to make such payment, the Sellers agreed to transfer the titles of real properties of Yushu Kingo to AGM Tianjin, valued with a 20% discount to market price. The Parties further agreed to conduct a new evaluation of Yushu Kingo’s assets and to enter into supplement agreement based on such evaluation.

 

The foregoing description of the Supplement Agreement does not purport to be complete and is qualified in its entirety by reference to the complete text of the Supplement Agreement, which is filed as Exhibit 10.1 hereto.

 

Forward-Looking Statements

 

This Form 6-K contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (“Securities Act”), and Section 21E under the Securities Exchange Act of 1934, as amended (“Exchange Act”), and that are subject to the safe harbor created by those sections. Statements that are not historical are forward-looking and reflect expectations and assumptions. Forward-looking statements are based on our current expectations of future events, and often can be identified in this report and elsewhere by using words such as “expect,” “strive,” “looking ahead,” “outlook,” “guidance,” “forecast,” “goal,” “optimistic,” “anticipate,” “continue,” “plan,” “estimate,” “project,” “believe,” “should,” “could,” “will,” “would,” “possible,” “may,” “likely,” “intend,” “can,” “seek,” “potential,” “pro forma,” or the negative thereof and similar expressions or future dates. You should not rely upon forward-looking statements as predictions of future events. The events and circumstances reflected in the forward-looking statements may not be achieved or occur. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance, or achievements. Except as required by applicable law, we undertake no duty to update any of these forward-looking statements after the date of this prospectus or to conform these statements to actual results or revised expectations.

 

EXHIBIT INDEX

 

Exhibit No.   Description
10.1   Supplement Agreement, dated April 6, 2021.

 

 

 

 

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

Date: April 9, 2021 AGM GROUP HOLDINGS INC.
     
  By: /s/ Wenjie Tang
  Name:  Wenjie Tang
  Title: Chief Executive Officer and Director

 

 

 

 

 

 

 

Exhibit 10.1

 

 

Supplement Agreement of Equity Transfer Agreement

  

 

 

by and among

 

 

 

Tianjin AnGaoMeng Construction Development Co., Ltd.

  

 

and

 

Li Bo, Ruan Shenghua and Zheng Yongsheng

 

 

 

April 6, 2021

 

 

 

 

 

Acquiror: Tianjin AnGaoMeng Construction Development Co., Ltd. (“Party A” or the “Acquiror”)

Address: Floor 3, Shui Li Da Sha, Fuzhou Road, Tanggu, Binhai New Area, Tianjin

Legal Representative: Li Zhenhua

Unified Social Credit Code of Enterprise Legal Person:

Seller: Li Bo (“Party B” or the “Seller B”)

Address: Room

Nationality:

ID No.:

Seller: Ruan Shenghua (“Party C” or the “Seller C”)

Address:

Nationality:

ID No.:

Seller: Ruan Shenghua (“Party D” or the “Seller D”)

Address:

Nationality:

ID No.:

(Party B, Party C and Party D are collectively referred to as “Sellers”, Sellers and Acquiror are collectively referred to as “Parties”.)

 

 

 

 

Whereas:

1. Yushu Kingo City Real Estate Development Co., Ltd. (the “Subject Company”) is a company limited by shares established and existing in the Administrative Bureau for Industry and Commerce of Yushu under the laws of China, with a registered capital of RMB30,000,000. Established on December 18, 2013 with its domicile at the West Section of Xiangyang Road, Yushu, the current legal representative of the Subject Company is Li Bo and its business scope is real estate development and property management;
2. Party A is a wholly-owned subsidiary of AGM Group Holdings, Inc. (“AGMH”), a NASDAQ listed company. AGMH has 21,791,055 Class A ordinary shares as of the date of this Agreement.
3. The Parties signed the Letter of Intent of Equity Acquisition on February 21, 2019 (In the Letter of Intent, Party A's name is "Shenzhen AnGaoMeng Financial Technology Service Co., Ltd." which has been renamed as "Tianjin AnGaoMeng Construction Development Co., Ltd.") and afterwards entered into an Equity Transfer Agreement (the “Original Transfer Agreement”) on which the parties agreed upon the transfer price and payment method. Party A has made advance payments in the amount of $4,937,663.72 (the “Advance Payments”) to respective Seller. 
4. The construction schedule of the Target Company has been delayed due to the COVID-19 of 2020, and it is expected that the completion date will be postponed to the 30th date of June 2021.

Base on the above situation, after friendly consultations conducted in accordance with the principles of equity and mutual benefit, the Parties agree to reach the Supplement Agreement with respect to the equity transfer in accordance with the Company Law of the People's Republic of China and other applicable laws and regulations.

1. Supplement Terms
1.1 The Parties agree that, by October 31, 2021, if Party A decides to abandon the acquisition, the Sellers will return the $4,937,663.72 Advance Payment of the Original Transfer Agreement to Party A and pay for an additional 10% interest of project delay loss to Party A.
1.2 All Parties agree that if Sellers are unable to return 100% of the Advance Payment plus interest to Party A, the Sellers agree to transfer titles of its real properties to Party A. The real estate price will be calculated at 20% discount of the market price.
1.3 Party A and the Sellers further agree to conduct a new evaluation of the real estate assets in light of COVID-19 after the completion of the audit and to enter into a supplement agreement based on such evaluation. In the new valuation, the Advance Payment plus interest returned by the Sellers shall count towards the final purchase price.

 

 

 

 

 

2. Miscellaneous Provisions
2.1 Positioning, Supplement and Modification of the Agreement

This Supplement Agreement shall have the same legal effect as the Original Transfer Agreement. Any supplement, amendment, annotation or annex to this Supplement Agreement shall be agreed in writing by all Parties and shall be binding only after being signed.

2.2 Effectiveness

This Agreement shall be formally signed and sealed by the legal representatives or their authorized representatives of each party, and shall come into force from the date of signature and seal of each party.

2.3 Copies

This Supplement Agreement is made in 8 copies, each party holds 2, all of which have the same legal effect.

2.4 Other Matters

Matters not covered in this Supplement Agreement shall be settled through friendly negotiation.

(Signatures follow on next page)

 

 

 

 

 

 

Party A: Tianjin AnGaoMeing Construction Development Co., Ltd.

 

/s/ Li Zhenhua

/seal/

 

Authorized Representative: Li Zhenhua

 

Date: April 6, 2021

 

 

 

Party B or Party B’s Authorized Representative: Li Bo

 

/s/ Li Bo

 

Date: April 6, 2021

 

Tel:

 

 

Party C or Party C’s Authorized Representative: Ruan Shenghua

 

/s/ Ruansheng Hua

 

Date: April 6, 2021

 

Tel:

 

 

 

Party D or Party D’s Authorized Representative: Zheng Yongsheng

 

/s/ Zheng Yongsheng

 

Date: April 6, 2021

 

Tel: