Hudson Capital Inc. Announces Executive Changes
December 14, 2021 at 03:20 pm
On October 10, 2020, Hudson Capital Inc. (Hudson Capital or the Company) entered into an Agreement and Plan of Merger, with Hudson Capital Merger Sub I Inc. of Hudson Capital (Merger Sub I), Hudson Capital Merger Sub II, Inc, Freight App Inc. and ATW Master Fund II, L.P.
On December 13, 2021, after discussions with the parties to the Merger Agreement, the Hudson Capital board of directors concluded that it was in the Companys best interest to change strategies and terminate the Merger Agreement and its amendments and adopt the New Merger Agreement. On December 13, 2021, the Company entered into a new merger agreement between Merger Sub I, Freight App and the Stockholders Representative (the New Merger Agreement) to acquire all the issued and outstanding securities of Freight App and assume Freight App as its direct, whollyowned subsidiary. In connection with the New Merger Agreement, the Board received notices of resignation from Hon Man Yun as Chief Financial Officer and appointed Paul Freudenthaler as the new Chief financial Officer with effect from Closing Date.