Full Press Release Details
SECURITIES PURCHASE AGREEMENT
This SECURITIES PURCHASE AGREEMENT
(the "Agreement") is dated as of ______, 2023 by and among Akso Health Group, a Cayman Islands company, (the "Company"),
and individuals listed in Exhibit B hereto and each affixes its signature on the signature page of this Agreement (each, a "Purchaser";
collectively, the "Purchasers").
___ ___ Akso Health Group " " B " "
WHEREAS, the Company and the
Purchasers are executing and delivering this Agreement in accordance with and in reliance upon the exemption from securities registration
afforded by Section 4(a)(2) of the Securities Act of 1933 (the "Securities Act") and/or Regulation S ("Regulation
S") as promulgated under the Securities Act;
1933 " " S " S" / 4 a 2
WHEREAS, the Company is offering
up to an aggregate of 35,739,270 units (the "Units"), each unit consisting of one ordinary share, par value
US$0.0001 per share, (the "Share") and Warrant (the "Warrant") to purchase one Share, in the form
attached hereto as Exhibit A, at price of $0.391 per Unit to the Purchasers listed in Exhibit B;
" " 0.0001 " " " " 0.391 B
WHEREAS, the Purchaser is
a "non-US person" as defined in Regulation S, acquiring the Units solely for its own account for the purpose of investment;
NOW, THEREFORE, IN CONSIDERATION
of the mutual covenants contained in this Agreement, and for other good and valuable consideration, the receipt and adequacy of which
are hereby acknowledged, the Company and the Purchaser hereby agree as follows:
Purchase and Sale of the Units
Section 1.1 Purchase
to the terms and conditions hereof, the Company agrees to issue and sell to each Purchaser and, in consideration of and in express reliance
upon the representations, warranties, covenants, terms and conditions of this Agreement, the Purchasers agree to purchase for $0.391 per
Unit, such number of Units for an aggregate price listed on the signature page hereto (the "Purchase Price").
to all conditions to closing being satisfied or waived, the closing of the purchase and sale of the Units (the "Closing")
shall take place at the offices of Hunter Taubman Fischer & Li LLC, the Company's legal counsel, on the day when all closing
conditions are satisfied or waived (the "Closing Date").
to the terms and conditions of this Agreement, at the Closing the Company shall deliver or cause to be delivered to the Purchaser (i)
a shareholder statement for such number of Shares, (ii) a Warrant to purchase such number of Shares and (iii) any other documents required
to be delivered pursuant to this Agreement. At the time of the Closing, the Purchaser shall have delivered its Purchase Price by wire
transfer pursuant to the wire information contained in this Agreement or by check.
Representations and Warranties
Section 2.1 Representations
and Warranties of the Company and its Subsidiaries. The Company hereby represents and warrants to the Purchaser on behalf of itself,
its Subsidiaries (as hereinafter defined), as of the date hereof (except as set forth on the Schedule of Exceptions attached hereto with
each numbered Schedule corresponding to the section number herein), as follows:
Good Standing and Power. The Company is a corporation or other entity duly incorporated or otherwise organized, validly existing and
in good standing under the laws of its jurisdiction of incorporation or organization (as applicable) and respectively, has the requisite
corporate power to own, lease and operate its properties and assets and to conduct its business as it is now being conducted. Except as
set forth on Schedule 2.1(a), the Company and each of its Subsidiaries is duly qualified to do business and is in good standing
in every jurisdiction in which the nature of the business conducted or property owned by it makes such qualification necessary except
for any jurisdiction(s) (alone or in the aggregate) in which the failure to be so qualified will not have a Material Adverse Effect (as
defined in Section 2.1(g) hereof).
(b) Corporate Power;
Authority and Enforcement. The Company has the requisite corporate power and authority to enter into and perform its obligations under
this Agreement, and to issue and sell the Units in accordance with the terms hereof. The execution, delivery and performance of this Agreement
by the Company and the consummation by it of the transactions contemplated hereby and thereby have been duly and validly authorized by
all necessary corporate action, and no further consent or authorization of the Company or its Board of Directors or stockholders is required.
This Agreement constitutes, or shall constitute when executed and delivered, a valid and binding obligation of the Company enforceable
against the Company in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization,
moratorium, liquidation, conservator ship, receiver ship or similar laws relating to, or affecting generally the enforcement of, creditor's
rights and remedies or by other equitable principles of general application.
The authorized capital stock of the Company is 500,000,000 Ordinary Shares with a par value of US$0.0001 each. The number of Ordinary
Shares issued and outstanding, as of March 31, 2023, was 68,598,050 and, except as set forth in the Schedule 2.1(c) hereto, which is the
authorized and issued and outstanding capital stock of the Company as at the date hereof. Except as set forth in the Schedule 2.1(c),
500,000,000 0.0001 2023 3 31 68,598,050
(i) except as set forth
on Schedule 2.1(c) hereto, no Ordinary Shares are entitled to preemptive, conversion or other rights and there are no outstanding
options, warrants, scrip, rights to subscribe to, call or commitments of any character whatsoever relating to, or securities or rights
convertible into, any shares of capital stock of the Company;
(ii) there are no contracts,
commitments, understandings, or arrangements by which the Company is or may become bound to issue additional shares of capital stock of
the Company or options, securities or rights convertible into shares of capital stock of the Company;
(iii) the Company is not
a party to any agreement granting registration or anti-dilution rights to any person with respect to any of its equity or debt securities;
(iv) the Company is not
a party to, and it has no knowledge of, any agreement restricting the voting or transfer of any shares of the capital stock of the Company
except as set forth in the Company's Memorandum and Articles of Associations, as amended and in effect on the date hereof (the "M&A").
(v)The offer and sale of all
capital stock, convertible securities, rights, warrants, or options of the Company issued prior to the Closing complied with all applicable
Federal and state securities laws, except where non-compliance would not have a Material Adverse Effect. The Company has furnished or
made available to the Purchaser true and correct copies of the M&A. Except as restricted under applicable federal, state, local or
foreign laws and regulations, the Articles, this Agreement, or as set forth on Schedule 2.1 (c), no written or oral contract, instrument,
agreement, commitment, obligation, plan or arrangement of the Company shall limit the payment of dividends on the Company's Preferred
Shares, or its Ordinary Shares.
(d) Issuance of Units.
The Units to be issued at the Closing have been duly authorized by all necessary corporate action and the Shares underlying the Warrants,
when paid for or issued in accordance with the terms hereof, shall be validly issued and outstanding, fully paid and non-assessable.
(e) [intentionally omitted]
Documents, Financial Statements. Except as set forth in Schedule 2.1 (f), the Company has filed all reports, schedules, forms, statements
and other documents required to be filed by it with the U.S. Securities and Exchange Commission (the "Commission" or "SEC")
pursuant to the reporting requirements of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), including
the Form 20-F and other material filings pursuant to Section 13(a) or 15(d) of the Exchange Act (all of the foregoing including filings
incorporated by reference therein being referred to herein as the "Commission Documents"). The Company has not provided
to the Purchaser any material non-public information or other information which, according to applicable law, rule or regulation, was
required to have been disclosed publicly by the Company but which has not been so disclosed, other than (i) with respect to the transactions
contemplated by this Agreement, or (ii) pursuant to a non-disclosure or confidentiality agreement signed by the Purchaser. At the time
of the respective filings, the Form 20-F's complied in all material respects with the requirements of the Exchange Act and the rules
and regulations of the Commission promulgated thereunder and other federal, state and local laws, rules and regulations applicable to
such documents. As of their respective filing dates, none of the Form 20-F's contained any untrue statement of a material fact;
and none omitted to state a material fact required to be stated therein or necessary in order to make the statements therein, in light
of the circumstances under which they were made, not misleading. The financial statements of the Company included in the Commission Documents
comply as to form in all material respects with applicable accounting requirements and the published rules and regulations of the Commission
or other applicable rules and regulations with respect thereto. Such financial statements have been prepared in accordance with United
States generally accepted accounting principles ("GAAP") applied on a consistent basis during the periods involved
(except (i) as may be otherwise indicated in such financial statements or the notes thereto or (ii) in the case of unaudited interim statements,
to the extent they may not include footnotes or may be condensed or summary statements), and fairly present in all material respects the
consolidated financial position of the Company as of the dates thereof and the results of operations and cash flows for the periods then