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CEO converts $7M loan into Autozi (AZI) Class B shares with lock-up

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
6-K

Rhea-AI Filing Summary

Autozi Internet Technology (Global) Ltd. entered into a Debt Conversion Agreement with its CEO, Houqi Zhang. The company will issue 10,000,000 Class B ordinary shares, par value $0.0005 per share, to the CEO in full settlement of an interest-free loan of $7,000,000 he previously provided to the company.

Once the shares are issued, the $7,000,000 loan will be cancelled and considered paid in full. The new shares will be subject to a three-year lock-up from the issuance date, during which the CEO may not dispose of them without the company’s prior written consent.

Positive

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Insights

Autozi swaps a $7M insider loan for locked-up equity.

Autozi Internet Technology (Global) Ltd. is converting a $7,000,000 interest-free loan from its CEO into 10,000,000 Class B ordinary shares. This removes a debt obligation while increasing equity held by an existing insider, aligning his position more with long-term share performance.

The three-year lock-up on the new Class B shares limits immediate resale and keeps the CEO’s exposure tied to the company. The net effect on investors depends on existing share counts and class structure, which are not detailed in this excerpt.

Loan amount $7,000,000 Interest-free loan from CEO converted to equity
Shares issued to CEO 10,000,000 Class B ordinary shares Issued in full settlement of the $7,000,000 loan
Par value per share $0.0005 per share Par value of Class B ordinary shares issued
Lock-up period Three years Duration CEO cannot dispose of new shares without consent
Agreement date June 22, 2026 Date of Debt Conversion Agreement between company and CEO
Debt Conversion Agreement financial
"entered into a Debt Conversion Agreement (the “Agreement”) with Houqi Zhang"
Class B ordinary shares financial
"will issue 10,000,000 Class B ordinary shares of the Company"
Class B ordinary shares are a type of ownership stake in a company that typically come with different voting rights or privileges compared to other share classes. For investors, they represent a way to hold part of the company’s value and influence its decisions, often with fewer voting rights than Class A shares. Understanding these shares helps investors assess their level of control and potential returns within a company.
material definitive agreement regulatory
"Entry into a Material Definitive Agreement."
A material definitive agreement is a legally binding contract that creates major, long‑term obligations or rights for a company, such as loans, asset sales, mergers, or supplier deals. Think of it like a mortgage or lease for a business: it can change future cash flow, risk and control, so investors watch these agreements closely because they can materially affect a company’s value, financial health and stock price.
lock-up period financial
"The Shares shall be subject to a three-year lock-up period commencing"
A lock-up period is a fixed time after a stock offering during which company insiders and early investors are legally barred from selling their shares. It matters because when that restriction expires a large block of previously locked-up shares can enter the market at once, potentially lowering the stock price or spiking trading volume—like opening a floodgate—so investors monitor these dates to anticipate price moves and manage risk.
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Form 6-K: How Foreign Companies Report to the SEC →

 

 

 

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 June 2026

 

Commission File Number: 001-42255

 

 

 

Autozi Internet Technology (Global) Ltd.

(Exact name of registrant as specified in its charter)

 

 

 

Room 204, Building A,

Intelligence Park No. 26 Yongtaizhuang North Road,

Haidian District, Beijing, China

(Address of principal executive offices)

 

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  ☐

 

 

 

 

 

 

Entry into a Material Definitive Agreement.

 

On June 22, 2026, Autozi Internet Technology (Global) Ltd. (the “Company”) entered into a Debt Conversion Agreement (the “Agreement”) with Houqi Zhang, the Chief Executive Officer and Chairman of the Board of Directors of the Company (the “CEO”).

 

Pursuant to the Agreement, the Company will issue 10,000,000 Class B ordinary shares of the Company, par value $0.0005 per share (the “Shares”), to the CEO in full settlement of an interest free loan in the amount of $7,000,000 (the “Loan”) provided by the CEO to the Company. Upon the issuance of the Shares, the Loan will be deemed cancelled and paid in full.The Shares shall be subject to a three-year lock-up period commencing on the issuance date, during which the CEO shall not directly or indirectly sell, transfer, pledge, hypothecate or otherwise dispose of any of the Shares without the Company’s prior written consent.

 

The Agreement is filed as Exhibit 10.1 to this report on Form 6-K and is incorporated herein by reference. The above description of the terms of the Agreement is qualified in its entirety by reference to such exhibit.

 

Exhibits Index

 

Exhibit No.   Description
     
10.1   Debt Conversion Agreement, dated June 22, 2026, by and between the Company and the CEO

 

 

 

 

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: June 25, 2026

 

Autozi Internet Technology (Global) Ltd.  
     
By: /s/ Houqi Zhang  
Name:  Houqi Zhang  
Title: CEO and Chairman of the Board  

 

 

 

Source: View Original Filing on SEC EDGAR

FAQ

What did Autozi Internet Technology (AZI) agree with its CEO in this 6-K?

Autozi agreed a Debt Conversion Agreement with CEO Houqi Zhang. The company will issue 10,000,000 Class B ordinary shares to him in full settlement of an interest-free loan of $7,000,000 that he previously provided to the company.

How much debt is Autozi Internet Technology (AZI) converting into equity?

Autozi is converting an interest-free loan of $7,000,000 into equity. In exchange, it will issue 10,000,000 Class B ordinary shares to its CEO, cancelling and fully satisfying this previously outstanding loan obligation to him once the shares are issued.

How many shares will Autozi Internet Technology (AZI) issue to its CEO?

The company will issue 10,000,000 Class B ordinary shares to its CEO. These shares have a par value of $0.0005 per share and are being issued as full settlement of a $7,000,000 interest-free loan he previously extended to the company.

Is there a lock-up period on the new Autozi Internet Technology (AZI) shares?

Yes. The 10,000,000 new Class B ordinary shares will be subject to a three-year lock-up period starting on their issuance date. During this time, the CEO cannot sell, transfer, pledge, or otherwise dispose of the shares without the company’s prior written consent.

Where can investors find the full Debt Conversion Agreement for Autozi (AZI)?

The complete Debt Conversion Agreement is filed as Exhibit 10.1 to the Form 6-K. The filing states that the summary description is qualified in its entirety by reference to this exhibit, which contains the detailed legal terms of the transaction.

Filing Exhibits & Attachments

1 document

Agreements & Contracts