AGRI-FINTECH HOLDINGS, INC. (FORMERLY, TINGO, INC.) ANNOUNCES INTENTION TO LIQUIDATE AND DISTRIBUTE HOLDINGS IN TINGO GROUP, INC.
Because the Distribution would be made pro-rata to the Company’s stockholders, it will also require the effectiveness of a registration statement filed with the U.S. Securities & Exchange Commission.
- Because the Distribution would be made pro-rata to the Company’s stockholders, it will also require the effectiveness of a registration statement filed with the U.S. Securities & Exchange Commission.
- The Company received its holdings in TIO, consisting of common stock, Series A convertible preferred stock (“Series A Preferred Stock”), and Series B convertible preferred stock (“Series B Preferred Stock”) in connection with its sale to TIO of Tingo Mobile Ltd., then the Company’s wholly-owned operating subsidiary (“Tingo Mobile”), on November 30, 2022.
- The conversion of TIO’s Series A Preferred Stock, which occurred on July 27, 2023, resulted in the completion of the second phase of the Merger.
- The conversion of the Series B Preferred Stock, if effected, would constitute the completion of the third and final phase of the Merger.