Shares of the Moxian (BVI) Inc (MOXC) stock were rising in the premarket trading session today on December 17, 2021. MOXC stock price saw an uptrend of 13.30% to reach $4.77 a share at the time of this writing. The stock was gloomy in the previous trade and went low by 7.88% at closing. Let’s dig in to understand the current momentum of MOXC stock.
What’s Happening?
Moxian today announced that it will organize the Special meeting of shareholders on December 28, 2021, at 11 AM. The agenda of the meeting is to discuss its decision of entering into the Bitcoin mining business and other related activities. Only those shareholders will be eligible to attend the meeting who registered themselves as of December 9, 2021. They can vote for the approval of the following three proposals.
- The asset purchase agreement between Moxian (BVI) Inc and certain non-U.S. accredited investors. The agreement concerns the placement of a 20,000,000 ordinary share of the MOXC stock at $2.50 per share price. The estimated gross proceeds are $50,000,000.
- The asset purchase agreement between Moxian wholly-owned subsidiary, Woodland Corporation Limited, and Starta Technology Services Limited. The motive is to buy bitcoin mining assets of worth $29.8 million.
- To adjourn the Special Meeting to a later meeting if required to permit further proxies’ solicitation in case of insufficient votes and proxies for the approval of both the above proposals.
Previous News of MOXC stock:
Back on September 20, 2021, Moxian announced the appointment of Mr. Conglin (Forrest) Deng as the Chief Executive Officer. Mr. Forrest Deng is also a board member of the company. He also served Beijing Jiuteng Investment Limited as the General Manager since 2016. Mr.Deng signed a three-year contract with the Moxian, with a $120,000 base salary per annum. Mr.Deng is a graduate of the Beijing Foreign Studies University with a major in English.
Corporate Reorganization:
In August, Moxian completed its reorganization as a British Virgin Islands company. The reorganization led to the conversion of each outstanding common share of MOXC stock to the right to receive an ordinary share of Moxian (BVI) Inc, a British Virgin Islands company. Moxian stockholders approved the merger agreement on July 19, 2021, at the annual stockholders’ meeting.
Wrap Up:
Investors are responding positively to the recent announcement of the Moxian related to the Special Meeting of the shareholders. The per-share price of MOXC stock has shown great progress in 2021 as it gained approximately 221% year to date.
