On May 21, 2021, Tecnon (Fujian) Commercial Lighting Co., Ltd. (hereinafter referred to as “Tecnon lighting") obtained registration approval from the China Securities Regulatory Commission for its non-public issuance of shares to specific objects. The total amount of funds to be raised by Tecnon lighting did not exceed RMB 420 million. The raised funds are to be used for the overall acquisition of the asset group of Upstar Technology (HK) Limited (hereinafter referred to as "Upstar asset group").
On August 4, 2021, Tecnon lighting (300650) issued the report on the issuance of shares to specific objects. The total amount of funds raised in this issuance was RMB 41 999 983.81 and the issuance price was RMB 19.79 per share.
JunHe’s Guangzhou and Hong Kong offices conducted legal due diligence on the domestic and foreign target companies and assisted Tecnon lighting to conduct multiple rounds of negotiations with the original multi shareholders of the Upstar asset group. JunHe’s teams assisted in completing the 100% equity acquisition of three overseas target companies, and finally realized the overall acquisition of a total of eight domestic and overseas target companies. JunHe successfully assisted Tecnon lighting to complete the non-public issuance of shares to specific objects, and the raised funds were used to pay the consideration of this acquisition. JunHe’s Guangzhou and Hong Kong offices cooperated to participate in the whole process of this material assets reorganization and the non-public issuance of shares to specific objects, and provided legal services in Guangzhou and Hong Kong, and JunHe’s team was highly recognized by the clients and the other intermediaries.