Current Report Filing (8-k)
08 July 2021 - 6:31AM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
June 30, 2021
C-Bond Systems, Inc.
(Exact name of registrant as specified in its charter)
Colorado
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0-53029
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26-1315585
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(State or Other Jurisdiction
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(Commission File Number)
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(IRS Employer
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of Incorporation)
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Identification Number)
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6035 South Loop East, Houston, TX 77033
(Address of principal executive offices) (zip code)
(832) 649-5658
(Registrant’s telephone number, including
area code)
(Former Name or Former Address if Changed Since
Last Report)
Check the appropriate box below if the Form 8-K
filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see
General Instruction A.2. below):
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Indicate by check mark whether the registrant
is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the
Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check
mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting
standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Securities registered pursuant to Section 12(b)
of the Act:
Title of each class
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Trading Symbol(s)
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Name of each exchange on which registered
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Not applicable
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Not applicable
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Not applicable
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Item 1.01 Entry into a Material Definitive Agreement.
On June 30, 2021, C-Bond Systems,
Inc., a Colorado corporation (the “Company” or “C-Bond”), entered into a Share Exchange Agreement and Plan of
Reorganization (the “Exchange Agreement”) with (i) Mobile Tint LLC, a Texas limited liability company doing business as A1
Glass Coating (“Mobile”), (ii) the sole member of Mobile (the “Mobile Shareholder”), and (iii) Michael Wanke as
the Representative of the Mobile Shareholder. Pursuant to the Exchange Agreement, C-Bond agreed to acquire 80% of Mobile’s units,
representing 80% of Mobile’s issued and outstanding capital stock (the “Mobile Shares”).
The
Mobile Shares will be exchanged for restricted shares of C-Bond’s common stock, par value $0.001 (“Common Stock”), in
an amount equal to $800,000, divided by the average of the closing prices of C-Bond’s Common Stock during the 30-day period immediately
prior to the closing as defined in the Exchange Agreement. On the closing date of the Exchange Agreement, the Mobile Shareholder will
become a shareholder of the Company and Mobile will become a majority-owned subsidiary of the Company. Several closing conditions remain
outstanding and the Company, in its sole discretion, may terminate this transaction if closing conditions are not met.
Two years after closing, C-Bond
has the option to acquire the remaining 20% of Mobile’s issued and outstanding membership interests in exchange for a number of
shares of C-Bond’s Common Stock equal to 300% of Mobile’s average EBIT value, divided by the price of C-Bond’s Common
Stock as defined in the Exchange Agreement.
The foregoing description
of the Exchange Agreement is a summary only and is qualified in its entirety by reference to the full text of such document, filed herewith
as Exhibit 10.1 and incorporated herein by reference.
Item 3.02 Unregistered Sales of Equity Securities.
The disclosure in Item 1.01
of this Current Report on Form 8-K is incorporated by reference into this Item 3.02. The offer, issuance and sale of such Mobile Units
were (a) exempt from the registration and prospectus delivery requirements of the Securities Act of 1933, as amended, (b) registered or
qualified (or were exempt from registration or qualification) under the registration or qualification requirements of all applicable state
securities Laws and (c) accomplished in conformity with all other applicable securities Laws.
Item 9.01 Financial Statements and Exhibits
SIGNATURES
Pursuant to the requirements of the Securities
and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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C-Bond Systems, Inc.
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Date: July 7, 2021
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By:
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/s/ Scott R. Silverman
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Name:
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Scott R. Silverman
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Title:
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Chief Executive Officer
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2
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