Welcome to our dedicated page for Connexa Sports Technologies SEC filings (Ticker: YYAI), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
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On July 11, 2025, Wang & Lee Group, Inc. ("WLGS") furnished a Form 6-K announcing that it has executed Amendment No. 1 to the senior convertible notes originally issued on June 9, 2025. The original private placement involved US$8.0 million of senior convertible notes, generating approximately US$3.57 million in net proceeds for the company.
The Amendment adds a key covenant: the conversion price of the notes may not fall below a defined floor price. All other terms appear unchanged; full details are contained in Exhibit 10.1, which is incorporated by reference.
- Form type: 6-K (foreign private issuer current report)
- Transaction: Private placement of senior convertible notes (convertible into ordinary shares)
- Principal amount: US$8,000,000
- Net proceeds: ~US$3,570,000
- New term: Minimum (floor) conversion price established
No financial performance metrics, earnings data, or additional operational updates were included in this filing.
Connexa Sports Technologies Inc. (Nasdaq: YYAI) has filed a Rule 424(b)(5) prospectus supplement establishing an at-the-market (ATM) equity program that permits the issuance of up to $2,213,152 of common stock through A.G.P./Alliance Global Partners. The Company is not required to sell any shares; transactions will be executed at prevailing market prices, with a 3.0 % sales commission payable to the agent. Based on the June 11 2025 closing price of $0.96, the program represents roughly 2.3 million shares, or up to 18 % of the current 14.56 million shares outstanding. After a full draw, shares outstanding could rise to approximately 17.24 million.
The filing follows a major strategic shift completed on 21 Nov 2024 when Connexa acquired a 70 % stake in Yuanyu Enterprise Management Co., Ltd. (YYEM), a Hong-Kong-based operator in the “love and marriage” AI-matching sector, for cash and 8.13 million newly issued YYAI shares. Concurrently, the Company divested its legacy “Slinger Bag” operations for $1.00, effectively making YYEM the sole operating subsidiary. YYEM reported $1.9 million in audited royalty revenue for FY ended 31 Jan 2024 and has term sheets that could generate “more than $70 million” over three years, though no contractual amounts are disclosed.
Capital structure and governance. Post-acquisition, controlling shareholder Hongyu Zhou owns 55.8 % of Connexa’s voting power, qualifying the Company as a “controlled company” under Nasdaq rules. Management states it currently complies with full Nasdaq governance standards but retains the right to rely on exemptions.
Liquidity and going-concern risk. Former auditor Olayinka Oyebola & Co. (OOC) included a going-concern explanatory paragraph in its FY 2024 audit opinion. OOC has since been charged by the SEC for alleged fraud-related assistance, prompting Connexa to replace OOC first with B&A and then with Enrome LLP. Management warns that potential deficiencies in OOC’s prior work could trigger restatements, additional audit costs, or delays in SEC filings.
Regulatory exposure. YYEM operates from Hong Kong. While Hong Kong generally follows “one country, two systems,” the supplement details extensive risk that the PRC could intervene in Hong Kong businesses, impose capital controls, or limit overseas listings—actions that could render YYAI’s shares “significantly decline or be worthless.” The Company currently sees no PRC approval requirements, but cautions that rules may change without notice.
Use of proceeds. Net proceeds are earmarked for capital expenditures, sales & marketing, working capital, and general corporate purposes; exact allocations remain at management’s discretion.
Key metrics.
- ATM size: $2.213 million (one-third public float limit).
- Public float: $6.64 million (6.44 million non-affiliate shares at $1.0317 on 8 May 2025).
- Recent price: $0.96 (11 Jun 2025 close).
- Agent fee: 3.0 % of gross proceeds; estimated offering expenses ~$75 k.
Connexa Sports Technologies Inc. (Nasdaq: YYAI) has entered into a Securities Purchase Agreement for a private placement of 20 million units at $0.23 per unit, generating gross proceeds of approximately $4.6 million. Each unit comprises one common share and two five-year warrants exercisable at $0.89. The warrants include standard anti-dilution provisions and allow cashless exercise if a resale registration statement is unavailable.
The closing is conditional upon satisfying all Nasdaq listing rules and obtaining shareholder approval via a forthcoming Schedule 14C. The Company may terminate the deal if it has not closed by 31 December 2025.
Because every unit carries two warrants, full exercise would add up to 40 million additional shares, materially expanding the share count. Nevertheless, the immediate capital injection strengthens liquidity without assuming balance-sheet debt.
Connexa Sports Technologies Inc. ("YYAI") filed a Form 8-K disclosing two corporate-governance developments.
Director resignation: Independent director Warren Andrew Thomson resigned from the Board and all committees on 12 Jun 2025, stating no disagreements with the company.
Board compensation overhaul: • Effective 18 Jun 2025, cash compensation for the employee-director CEO Thomas Tarala and all non-employee directors is converted from US$7,500 per quarter plus US$12,500 in restricted stock to a flat US$60,000 per year. • Payments are retroactive to each director’s start date. The company therefore owes Tarala US$30,000 and owes each non-employee director US$30,000 for the two quarters beginning 1 Nov 2024 and 1 Feb 2025.
No earnings data, material transactions, or financial statements were included in the filing.
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