3//SEC Filing
RUILI INTERNATIONAL INC. 3
Accession 0001213900-20-006725
CIK 0000714284other
Filed
Mar 17, 8:00 PM ET
Accepted
Mar 18, 6:11 AM ET
Size
6.2 KB
Accession
0001213900-20-006725
Insider Transaction Report
Form 3
RUILI INTERNATIONAL INC.
10% Owner
Holdings
- 11,359,403(indirect: See footnote)
Common Stock
Footnotes (3)
- [F1]Ruili International Inc. is currently owned and controlled by Xiaoping Zhang and was created solely for the purpose of entering into the merger agreement (the "Merger Agreement") with SORL Auto Parts, Inc. (the "Company"), dated November 29, 2019, and consummating the transactions contemplated by the Merger Agreement.
- [F2]Pursuant to the Equity Contribution and Voting Agreement, dated November 29, 2019, by and among Ruili International Inc., Xiaoping Zhang, Shuping Chi and Xiaofeng Zhang (together with Xiaoping Zhang and Shuping Chi, the "Rollover Stockholders"), (x) immediately prior to the closing of the merger, the Rollover Stockholders will contribute to Ruili International Inc. an aggregate amount of 11,359,403 shares of the common stock of the Company beneficially owned by them (the "Rollover Shares"), representing 58.83% of the common stock of the Company, in exchange for newly issued shares of common stock of Ruili International Inc.; and (y) the Rollover Stockholders irrevocably appoint Ruili International Inc., as their irrevocable proxy to vote the Rollover Shares.
- [F3]Ruili International Inc. may be deemed to beneficially own all of such Rollover Shares and share with the Rollover Stockholders the voting power and dispositive power of such Rollover Shares. Ruili International expressly disclaims its ownership of any pecuniary interest in such Rollover Shares because Ruili International Inc. does not have or share the opportunity, directly or indirectly, to profit or share in any profit derived from the transaction in such Rollover Shares.
Documents
Issuer
SORL Auto Parts, Inc.
CIK 0000714284
Entity typeother
IncorporatedDE
Related Parties
1- filerCIK 0001806481
Filing Metadata
- Form type
- 3
- Filed
- Mar 17, 8:00 PM ET
- Accepted
- Mar 18, 6:11 AM ET
- Size
- 6.2 KB