TEN Holdings, Inc. 8-K

What Happened

• TEN Holdings, Inc. (XHLD) filed an 8-K reporting the termination or planned termination of four contracts and a change in its Board. On July 20, 2026 the company gave notice to terminate the Follow‑On Offering Advisory Agreement with RyuShin Advisors LLC and the Master Services Agreement with PeakValue, LLC (both dated February 18, 2025), effective immediately. On the same date it elected to terminate the Capital Market Services Agreement with Cherish Gloss Group Limited (effective October 18, 2026 after 90 days’ notice) and the Consultancy Agreement with Jipsy Trade Limited (effective August 19, 2026 after 30 days’ notice). Separately, on July 23, 2026 Director Yuji Ishida resigned (including as Audit Committee chair), and on July 24, 2026 the Board appointed Kevin Cheong Jia Jin as a director and member of the Compensation Committee.

Key Details

• Termination notices dated July 20, 2026 for agreements originally executed February 18, 2025 (RyuShin, PeakValue, Cherish Gloss, Jipsy Trade).
• RyuShin and PeakValue terminations: effective immediately; Jipsy Trade effective Aug 19, 2026; Cherish Gloss effective Oct 18, 2026.
• Director change: Yuji Ishida resigned July 23, 2026 (not due to disagreement). Kevin Cheong Jia Jin appointed July 24, 2026, will serve until the 2026 annual meeting, receives $10,000 annual cash retainer, and has an indemnification agreement.
• Agreements’ material terms summarized in TEN’s Form 10‑Q for quarter ended March 31, 2025 (filed May 20, 2025; Exhibits 10.21–10.24).

Why It Matters

• The company states these agreements are no longer necessary under its current strategy, so the actions indicate a shift away from the external advisory and service relationships established in 2025. For investors, this could affect how TEN sources advisory, capital markets and consulting support going forward and may change related costs or capabilities.
• The resignation of the Audit Committee chair is a governance change to note; the Board promptly filled the vacancy and appointed an independent director to the Compensation Committee, which maintains board functioning and oversight.