Report of Foreign Issuer Pursuant to Rule 13a-16 or 15d-16 (6-k)
05 April 2023 - 7:23PM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
FORM
6-K
REPORT
OF FOREIGN PRIVATE ISSUER
PURSUANT
TO RULE 13a-16 OR 15d-16 OF THE
SECURITIES
EXCHANGE ACT OF 1934
For
the month of March 2023
Commission
File Number 001-40517
BON
NATURAL LIFE LIMITED
(Translation
of registrant’s name into English)
25F,
Rongcheng Yungu, Keji 3rd Road
Xi’an
Hi-Tech Zone, Xi’an, China
People’s
Republic of China
(Address
of principal executive offices)
Indicate
by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F: Form 20-F ☒ Form
40-F ☐
Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐
Note:
Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report
to security holders.
Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐
Note:
Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that
the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated,
domiciled or legally organized (the registrant’s “home country”), or under the rules of the home country exchange on
which the registrant’s securities are traded, as long as the report or other document is not a press release, is not required to
be and has not been distributed to the registrant’s security holders, and, if discussing a material event, has already been the
subject of a Form 6-K submission or other Commission filing on EDGAR.
Public
Offering of Shares and Warrants
On
March 30, 2023, Bon Natural Life Limited, (the “Company”) engaged in a public offering of up to $3,000,000 worth of ordinary
shares of the Company, par value $0.0001 per share (the “Shares”) in three (3) equal tranches at the subscription price as
defined below. Shares issued in the first tranche will be issued on the first trading day that occurs after 15 calendar days from the
filing date of the Company’s Listing of Additional Shares Notification Form with Nasdaq. The second tranche of Shares will be issued
on the 11th trading day from the closing date of the first tranche. Shares issued in the third tranche will be issued on the 11th trading
day from the closing date of the second tranche.
The
Shares will be priced at the lower of (a) $1.00 per share or (b) 80% of the market closing price for the Company’s Shares as reported
by the Nasdaq Capital Market on the trading day immediately preceding the closing date for the initial tranche. The subscription price
for the first closing date shall remain fixed and will be the subscription price for all the remaining closing dates thereafter.
Together
with each Share subscribed for, the Company will issue one (1) warrant to purchase one (1) Share at an exercise price equal to 120% of
the subscription price, exercisable for a period of thirty-six (36) months following the closing date (the “Warrants”).
We
currently expect the initial public offering price will be $1.00 per Share and Warrants exercisable at $1.20 per Share, resulting in
3,000,000 Shares and 2,500,000 Shares issuable upon exercise of the Warrants.
We
registered the Shares by way of a prospectus supplement to our currently effective unallocated shelf registration statement on Form F-3,
(SEC File No. 333-267116).
Following
the close of the offering we will have a total of 16,646,226 ordinary shares issued and outstanding.
Exhibits
The
following exhibits are included in this Form 6-K:
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned, thereunto duly authorized.
Date:
April 5, 2023 |
Bon
Natural Life Limited |
|
|
|
|
By: |
/s/
Yongwei Hu |
|
|
Yongwei
Hu |
|
|
Chairman
and Chief Executive Officer |
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