Baosheng Media Group (NASDAQ: BAOS) terminates US$30M equity purchase agreement
Rhea-AI Filing Summary
Baosheng Media Group Holdings Limited terminated its previously arranged equity financing facility with High West Partners LLC. Under the securities purchase agreement, Baosheng had the discretion to sell up to US$30,000,000 of ordinary shares, but chose to end the arrangement pursuant to its contractual termination right.
Baosheng delivered a Termination Notice on August 11, 2026, which will become effective on August 12, 2026, after satisfaction of existing share delivery obligations. Before termination, the company sold or issued 255,328 ordinary shares to the investor under the agreement. The report and the Termination Notice are incorporated by reference into Baosheng’s Form F-3 shelf registration.
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Key Figures
Equity facility size: US$30,000,000
Shares issued under SPA: 255,328 ordinary shares
Termination effective date: August 12, 2026
+2 more
5 metrics
Equity facility size
US$30,000,000
Maximum aggregate amount of ordinary shares Baosheng could sell under the securities purchase agreement
Shares issued under SPA
255,328 ordinary shares
Total ordinary shares sold or issued to High West Partners before termination of the agreement
Termination effective date
August 12, 2026
Date on which the Termination Notice becomes effective and the Offering ends
Termination Notice date
August 11, 2026
Date Baosheng sent the Termination Notice and the investor confirmed receipt
Par value per share
US$0.0096 per share
Par value of Baosheng’s ordinary shares eligible for issuance under the agreement
Key Terms
securities purchase agreement, Maturity Date, Commencement Date, Trading Day, +1 more
5 terms
securities purchase agreement financial
"the Company entered into a securities purchase agreement (the “SPA”), dated July 10, 2026"
A securities purchase agreement is a written contract between a buyer and a seller outlining the terms for buying or selling financial assets such as stocks or bonds. It specifies details like the price, quantity, and conditions of the transaction, similar to a shopping list with agreed-upon terms. For investors, it provides clarity and legal protection when transferring ownership of these financial instruments.
Maturity Date financial
"from time to time until the Maturity Date specified in the SPA"
The maturity date is the specific day when a loan, bond, or investment reaches its full term and the borrower must repay the borrowed amount in full. It is important for investors because it indicates when they will receive their initial money back and can plan their future financial steps accordingly. Think of it as the due date for a loan or the day a gift card or coupon expires.
Commencement Date financial
"at any time after the Commencement Date, the SPA may be terminated"
Trading Day financial
"The Termination Notice will not be effective until one Trading Day after it has been received"
A trading day is a calendar day when a stock exchange is open and securities can be bought or sold during its set market hours, like a store’s regular business hours. It matters to investors because price changes, order execution, daily volume, and settlement timing are tied to trading days, so performance, deadlines for trades or option expirations, and short-term strategies are measured and planned around them.
incorporated by reference regulatory
"This report, including Exhibits 10.1 hereto, shall be deemed to be incorporated by reference"
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What did Baosheng Media Group Holdings (BAOS) announce in this Form 6-K?
Baosheng Media Group Holdings terminated its securities purchase agreement with High West Partners LLC, ending a discretionary equity financing facility of up to US$30,000,000 in ordinary shares, effective August 12, 2026.
How large was the Baosheng Media (BAOS) equity facility with High West Partners?
The securities purchase agreement allowed Baosheng to sell and issue, at its discretion, up to US$30,000,000 of ordinary shares to High West Partners LLC from time to time until the Maturity Date specified in the agreement.
When does the termination of Baosheng Media’s (BAOS) securities purchase agreement become effective?
Baosheng sent a Termination Notice on August 11, 2026, which the investor acknowledged the same day. The termination becomes effective on August 12, 2026, one Trading Day after receipt, in line with the agreement’s terms.
Does this Baosheng Media (BAOS) 6-K affect its existing Form F-3 registration?
Yes. This report, including the Termination Notice as Exhibit 10.1, is incorporated by reference into Baosheng’s Form F-3 registration statement (File No. 333-273720) and becomes part of that registration from the filing date.
Under what conditions could Baosheng Media (BAOS) terminate the securities purchase agreement?
Under Section 11(c) of the agreement, Baosheng could terminate any time after the Commencement Date by delivering a written Termination Notice, effective one Trading Day after receipt, subject to fulfilling all existing share delivery and other obligations.