RegenCell BioScience Holdings (RGC)

[shinhari1309]

CEO of Regencell Bioscience $RGC, pledged to not draw salary and bonus of more than USD $1 until the company reaches USD $1 billion market capitalization.

• Billionaire investor backing. Samuel Chen, a successful early Zoom Video Communications (NASDAQ:ZM) investor is one of the major backers of RGC. Last reported 13G filing shows he holds a 7.63% stake in the company.

• Stock option lock-up extended. All directors and employees who were previously granted stock options upon the Company’s IPO have agreed to a further lock-up undertaking for a period of six months after their stock options become vested. As their stock options are set to vest on July 16, 2022, their shares will remain locked up until January 16, 2023.

• Royalties. Under the agreement with their strategic partner and TCM practitioner, Mr. Sik-Kee Au, creator of the original TCM formulae that form the basis of RGC’s intellectual property, RGC will pay 3% of net revenue, which will in turn be donated to charitable institutions/trusts at the choice of the TCM Practitioner.

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