LSH Revises Private Placement Terms—Share Count and Price Corrected
Rhea-AI Filing Summary
Lakeside Holding Limited filed an amendment to its current report to correct the disclosed terms of a private placement. The amendment restates Item 1.01 and Item 9.01 to show that the aggregate number of shares issued was 2,000,000 (previously reported as 1,500,000) and that the purchase price per share was $0.75 (previously reported as $1.00). The amendment references an Amended Securities Purchase Agreement filed as Exhibit 10.1 (dated August 5, 2025).
Other than these corrections, the Original report filed on July 22, 2025 remains unchanged. The amendment is signed by CFO Long Yi on August 11, 2025. The filing identifies the company as a Nasdaq-listed registrant under the ticker LSH and indicates it is an emerging growth company.
Positive
- Corrected disclosure clarifies the private placement share count and purchase price for investors.
- Amended Securities Purchase Agreement filed as Exhibit 10.1 (dated August 5, 2025), providing the executed agreement for the corrected terms.
Negative
- Aggregate shares increased from 1,500,000 to 2,000,000, changing the reported amount of equity issued.
- Purchase price reduced from $1.00 to $0.75 per share versus prior disclosure.
- Original filing contained inaccuracies that required an amendment, raising potential governance and disclosure control concerns.
Insights
TL;DR: Corrected terms increase disclosed share count and lower price, altering the reported private placement economics.
The amendment corrects two core deal terms: the aggregate shares issued were revised upward to 2,000,000 and the price per share was revised downward to $0.75. Those changes materially alter the reported structure and economics of the private placement as disclosed to investors. The company filed an Amended Securities Purchase Agreement as Exhibit 10.1, which provides the definitive contract language for the corrected terms. Because the amendment adjusts fundamental deal metrics, investors should rely on the amended disclosure as the accurate record of the transaction.
TL;DR: Amendment restores accuracy to disclosure but highlights an initial misstatement that warrants governance attention.
The company has taken the appropriate remedial step of amending its current report and attaching the Amended Securities Purchase Agreement. While this corrects the public record, the need for an amendment to fix basic transactional facts—share count and purchase price—raises questions about internal controls over disclosure and the review process for material filings. The filing itself is clear about what was changed and confirms that, aside from these corrections, the Original report remains unchanged.