0001493152-21-015115.txt : 20210623 0001493152-21-015115.hdr.sgml : 20210623 20210623172546 ACCESSION NUMBER: 0001493152-21-015115 CONFORMED SUBMISSION TYPE: F-1MEF PUBLIC DOCUMENT COUNT: 6 333-251182 FILED AS OF DATE: 20210623 DATE AS OF CHANGE: 20210623 EFFECTIVENESS DATE: 20210623 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Bon Natural Life Ltd CENTRAL INDEX KEY: 0001816815 STANDARD INDUSTRIAL CLASSIFICATION: MEDICINAL CHEMICALS & BOTANICAL PRODUCTS [2833] IRS NUMBER: 000000000 STATE OF INCORPORATION: E9 FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: F-1MEF SEC ACT: 1933 Act SEC FILE NUMBER: 333-257328 FILM NUMBER: 211039524 BUSINESS ADDRESS: STREET 1: C601, GAZELLE VALLEY, NO.69 JINYE RD. STREET 2: XI'AN-TECH ZONE CITY: XI'AN STATE: F4 ZIP: 710076 BUSINESS PHONE: 0086-29-88346301 MAIL ADDRESS: STREET 1: C601, GAZELLE VALLEY, NO.69 JINYE RD. STREET 2: XI'AN-TECH ZONE CITY: XI'AN STATE: F4 ZIP: 710076 F-1MEF 1 f-1mef.htm

 

As filed with the U.S. Securities and Exchange Commission on June 23, 2021

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

FORM F-1

 

REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933

 

Bon Natural Life Limited

(Exact name of Registrant as specified in its charter)

 

Cayman Islands   2833   Not applicable

(State or other jurisdiction

of incorporation or organization)

 

(Primary Standard Industrial

Classification Code Number)

 

(I.R.S. Employer

Identification Number)

 

C601, Gazelle Valley, No.69 Jinye Road.

Xi’an Hi-tech Zone, Xi’an, China

0086-29-88318908 x805

(Address, including zip code, and telephone number, including area code, of Registrant’s principal executive offices)
 

The Crone Law Group P.C.

500 Fifth Ave, Suite 938

New York, NY 10110

Phone: (646) 861-7891

(Name, address, including zip code, and telephone number, including area code, of agent for service)

 

Approximate date of commencement of proposed sale to the public: As soon as practicable after the effective date of this Registration Statement.

 

If any of the securities being registered on the Form are to be offered on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933, check the following box [X]

 

If this Form is filed to register additional securities for an offering pursuant to Rule 462(b) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. [X] 333-251182

 

If this Form is a post-effective amendment filed pursuant to Rule 462(c) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. [  ]

 

If this Form is a post-effective amendment filed pursuant to Rule 462(d) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. [  ]

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933. [X]

 

If an emerging growth company that prepares its financial statements in accordance with U.S. GAAP, 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 7(a)(2)(B) of the Securities Act. [  ]

 

COPIES OF COMMUNICATIONS TO:

 

Mark Crone, Esq.

Joe Laxague, Esq.

The Crone Law Group P.C.

500 Fifth Ave, Suite 938

New York, NY 10110

Phone: (646) 861-7891

Richard I. Anslow, Esq.

David Selengut Esq.

Ellenoff Grossman & Schole LLP

1345 Avenue of the Americas

New York, NY 10105

Phone: (212) 370-1300

Fax: (212) 370-7889

 

CALCULATION OF REGISTRATION FEE

 

TITLE OF EACH CLASS OF
SECURITIES TO BE REGISTERED
  AMOUNT TO BE
REGISTERED
   PROPOSED
MAXIMUM
OFFERING PRICE
PER SHARE
  

PROPOSED

MAXIMUM

AGGREGATE

OFFERING PRICE (2)

   AMOUNT OF
REGISTRATION FEE
 
Ordinary Shares, par value $0.0001 per share (3)   230,000(1)  $5.00   $1,150,000   $125.47 
Underwriters’ warrants (3)(4)   18,400   $   $   $ 
Ordinary Shares to be issued upon exercise of Underwriters’ warrants(3)   18,400   $5.00   $92,000   $10.04 
Total Registration Fee                 $135.51 

 

(1) Includes (a) 200,000 ordinary shares; and (b) up to 30,000 ordinary shares that may be purchased by the underwriters pursuant to its option to purchase additional shares.In accordance with Rule 462(b) promulgated under the Securities Act of 1933, as amended, an additional amount of securities having a proposed maximum aggregate offering price of no more than 20% of the maximum aggregate offering price of the securities eligible to be sold under the related Registration Statement on Form F-1 (File No. 333-251182), as amended, is hereby registered. The registrant previously registered securities with a proposed aggregate offering price of $11,500,000 on the Registration Statement on Form F-1 (File No. 333-251182), for which a filing fee of $1,254.65 was previously paid.
   
(2) Estimated solely for the purpose of determining the amount of registration fee in accordance with Rule 457(a) under the Securities Act of 1933.
   
(3) Pursuant to Rule 416 under the Securities Act, the securities being registered hereunder include such indeterminate number of additional ordinary shares as may be issued after the date hereof as a result of share splits, share dividends or similar transactions.
   
(4) In accordance with Rule 457(g) under the Securities Act, because the shares of the registrant’s ordinary shares underlying the underwriters’ warrants (“Underwriter Warrants”) are registered hereby, no separate registration fee is required with respect to the warrants registered hereby.

 

This registration statement shall become effective upon filing with the Securities and Exchange Commission in accordance with Rule 462(b) under the Securities Act of 1933, as amended.

 

 

 

   
 

 

EXPLANATORY NOTE

 

This Registration Statement is being filed pursuant to Rule 462(b) and General Instruction V to Form F-1, both promulgated under the Securities Act of 1933, as amended. The contents of the Registration Statement on Form F-1 (File No. 333-251182) initially filed by Bon Natural Life Limited (the “Company”) with the Securities and Exchange Commission (the “Commission”) on December 7, 2020, which was declared effective by the Commission on June 23, 2021, including all amendments, supplements and exhibits thereto and each of the documents filed by the Company with the Commission and incorporated or deemed to be incorporated therein, are incorporated herein by reference.

 

The required opinions and consents are listed on an Exhibit Index attached hereto.

 

   
 

 

Table of Exhibits

 

Exhibit Number   Description
     
5.1   Opinion of Ogier regarding the validity of the ordinary shares being registered, with consent to use
     
23.1   Consent of Friedman LLP, an independent registered public accounting firm

 

   
 

 

SIGNATURES

 

In accordance with the requirements of the Securities Act of 1933, the registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form F-1 and authorized this registration statement to be signed on its behalf by the undersigned, in Xi’an, People’s Republic of China, on June 23, 2021.

 

BON NATURAL LIFE LIMITED  
     
By: /s/ Yongwei Hu  
  Yongwei Hu  
  Chairman, Chief Executive Officer  
  (Principal Executive Officer)  
     
By: /s/ Zhenchao Li  
  Zhenchao Li  
  Chief Financial Officer, Director  
  (Principal Financial Officer and Principal Accounting Officer)  

 

Pursuant to the requirements of the Securities Act of 1933, this registration statement has been signed by the following persons in the capacities and on the dates indicated.

 

By: /s/ Yongwei Hu  
  Yongwei Hu  
  Chairman, Chief Executive Officer  
  (Principal Executive Officer)  
  Date: June 23, 2021  
     
By: /s/ Zhenchao Li  
  Zhenchao Li  
  Chief Financial Officer, Director  
  (Principal Financial Officer and Principal Accounting Officer)  
  Date: June 23, 2021  

 

   
 

 

SIGNATURE OF AUTHORIZED REPRESENTATIVE IN THE UNITED STATES

 

Pursuant to the Securities Act of 1933, as amended, the undersigned, the duly authorized representative in the United States of Bon Natural Life Limited has signed this registration statement or amendment thereto in New York, New York, on June 23, 2021.

 

  The Crone Law Group P.C.
     
  By: /s/ Mark Crone
  Name: Mark Crone
  Title: Managing Partner

 

   

 

EX-5.1 2 ex5-1.htm

 

Exhibit 5.1

 

 

Bon Natural Life Limited D +852 3656 6054
Sertus Chambers E nathan.powell@ogier.com
Governors Square  
Suite #5-204 Reference: NMP/FYC/180371.00001
23 Lime Tree Bay Avenue  
P.O. Box 2547  
Grand Cayman, KY1-1104  
Cayman Islands  

 

23 June 2021

 

Dear Sirs

 

Bon Natural Life Limited (the Company)

 

We have acted as Cayman Islands counsel to the Company in connection with the Company’s registration statement on Form F-1, including all amendments or supplements thereto (the Registration Statement), as filed with the United States Securities and Exchange Commission (the Commission) under the United States Securities Act of 1933, as amended to date (the Act). The Registration Statement relates to the offering by the Company (the Offering) up to an aggregate of 2,300,000 ordinary shares of US$0.0001 par value each of the Company (which includes the additional ordinary shares of US$0.0001 par value each of the Company to cover the over-allotment option to be granted to the underwriter), with an additional 200,000 ordinary shares of US$0.0001 par value each of the Company in respect of the upsizing (collectively, the Shares).

 

We are furnishing this opinion as Exhibit 5.1 to the Registration Statement.

 

Unless a contrary intention appears, all capitalised terms used in this opinion have the respective meanings set forth in Schedule 1. A reference to a Schedule is a reference to a schedule to this opinion and the headings herein are for convenience only and do not affect the construction of this opinion.

 

1 Documents examined

 

For the purposes of giving this opinion, we have examined originals, copies, or drafts of the following documents:

 

  (a) the certificate of incorporation of the Company dated 11 December 2019 issued by the Registrar of Companies of the Cayman Islands (the Registrar);
     
  (b) the memorandum and articles of association of the Company filed with the Registrar on 11 December 2019 (the Memorandum and Articles);

 

Ogier

British Virgin Islands, Cayman Islands, Guernsey, Jersey and Luxembourg practitioners

 

Floor 11 Central Tower

28 Queen's Road Central

Central

Hong Kong

 

T +852 3656 6000

F +852 3656 6001

ogier.com

 

Partners

Nicholas Plowman

Nathan Powell

Anthony Oakes

Oliver Payne

Kate Hodson

David Nelson

Michael Snape

Justin Davis

James Bergstrom

Marcus Leese

 

 

 
Page 2 of 4 

 

  (c) a certificate of good standing dated 24 May 2021 (the Good Standing Certificate) issued by the Registrar in respect of the Company;
     
  (d) the register of directors and officers of the Company provided to us on 10 July 2020 (the ROD);
     
  (e) the register of members of the Company provided to us by The Crone Law Group P.C. on 3 July 2020 (the ROM, and together with the ROD, the Registers);
     
  (f) a certificate from a director of the Company dated 23 June 2021 (the Director’s Certificate);
     
  (g) a copy of the written resolutions of the directors of the Company dated 8 July 2020 and 23 June 2021 approving the Company’s filing of the Registration Statement and issuance of the Shares (the Board Resolutions); and
     
  (h) the Registration Statement.

 

2 Assumptions

 

In giving this opinion we have relied upon the assumptions set forth in this paragraph 2 without having carried out any independent investigation or verification in respect of those assumptions:

 

  (a) all original documents examined by us are authentic and complete;
     
  (b) all copy documents examined by us (whether in facsimile, electronic or other form) conform to the originals and those originals are authentic and complete;
     
  (c) all signatures, seals, dates, stamps and markings (whether on original or copy documents) are genuine;
     
  (d) each of the Good Standing Certificate, the Registers and the Director’s Certificate is accurate and complete as at the date of this opinion;
     
  (e) all copies of the Registration Statement are true and correct copies and the Registration Statement conform in every material respect to the latest drafts of the same produced to us and, where the Registration Statement has been provided to us in successive drafts marked-up to indicate changes to such documents, all such changes have been so indicated;
     
  (f) the Board Resolutions remains in full force and effect and each of the directors of the Company has acted in good faith with a view to the best interests of the Company and has exercised the standard of care, diligence and skill that is required of him or her in approving the Offering and no director has a financial interest in or other relationship to a party of the transactions contemplated by the Offering which has not been properly disclosed in the Board Resolutions;
     
  (g) neither the directors and shareholders of the Company have taken any steps to appoint a liquidator of the Company and no receiver has been appointed over any of the Company’s property or assets;
     
  (h) the maximum number of Shares to be issued by the Company would not exceed the Company’s authorised share capital and the consideration payable for the Shares shall not be less than the aggregate par value of such number of Shares; and
     
  (i) there is no provision of the law of any jurisdiction, other than the Cayman Islands, which would have any implication in relation to the opinions expressed herein.

 

 
Page 3 of 4 

 

3 Opinions

 

On the basis of the examinations and assumptions referred to above and subject to the limitations and qualifications set forth in paragraph 4 below, we are of the opinion that:

 

Corporate status

 

  (a) The Company has been duly incorporated as an exempted company with limited liability and is validly existing and in good standing with the Registrar under the laws of the Cayman Islands.

 

Authorised Share capital

 

  (b) The authorised share capital of the Company is US$50,000 divided into 500,000,000 ordinary shares comprising of a par value of US$0.0001 each.

 

Valid Issuance of Shares

 

  (c) The issuance and allotment of the Shares have been duly authorised and, when issued and allotted and once consideration is paid for in accordance with the Registration Statement, will be validly issued, fully paid and non-assessable. Once the register of members of the Company has been updated to reflect the issuance, the shareholders recorded in the register of members will be deemed to have legal title to the shares set against their respective name.

 

4 Limitations and Qualifications
   
4.1 We offer no opinion:

 

  (a) as to any laws other than the laws of the Cayman Islands, and we have not, for the purposes of this opinion, made any investigation of the laws of any other jurisdiction, and we express no opinion as to the meaning, validity, or effect of references in the Documents to statutes, rules, regulations, codes or judicial authority of any jurisdiction other than the Cayman Islands; or
     
  (b) except to the extent that this opinion expressly provides otherwise, as to the commercial terms of, or the validity, enforceability or effect of the Registration Statement, the accuracy of representations, the fulfilment of warranties or conditions, the occurrence of events of default or terminating events or the existence of any conflicts or inconsistencies among the Registration Statement and any other agreements into which the Company may have entered or any other documents.

 

4.2 Under the Companies Act (Revised) (Companies Act) of the Cayman Islands annual returns in respect of the Company must be filed with the Registrar, together with payment of annual filing fees. A failure to file annual returns and pay annual filing fees may result in the Company being struck off the Register of Companies, following which its assets will vest in the Financial Secretary of the Cayman Islands and will be subject to disposition or retention for the benefit of the public of the Cayman Islands.

 

 
Page 4 of 4 

 

4.3 In good standing means only that as of the date of this opinion the Company is up-to-date with the filing of its annual returns and payment of annual fees with the Registrar. We have made no enquiries into the Company’s good standing with respect to any filings or payment of fees, or both, that it may be required to make under the laws of the Cayman Islands other than the Companies Act.
   
5 Governing law of this opinion
   
5.1 This opinion is:

 

  (a) governed by, and shall be construed in accordance with, the laws of the Cayman Islands;
     
  (b) limited to the matters expressly stated in it; and
     
  (c) confined to, and given on the basis of, the laws and practice in the Cayman Islands at the date of this opinion.

 

5.2 Unless otherwise indicated, a reference to any specific Cayman Islands legislation is a reference to that legislation as amended to, and as in force at, the date of this opinion.
   
6 Reliance

 

We hereby consent to the filing of this opinion as an exhibit to the Registration Statement and to the reference to our firm under the headings “Legal Matters” of the Registration Statement. In giving such consent, we do not thereby admit that we come within the category of persons whose consent is required under Section 7 of the U.S. Securities Act of 1933, as amended, or the Rules and Regulations of the Commission thereunder.

 

This opinion may be used only in connection with the offer and sale of the Shares while the Registration Statement is effective.

 

Yours faithfully

 

 

Ogier

 

 

EX-23.1 3 ex23-1.htm

 

Exhibit 23.1

 

 

CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

 

We hereby consent to the incorporation by reference in the Registration Statement on Form F-1 filed pursuant to Rule 462(b) of the Securities Act of 1933, of our report dated March 30, 2021, with respect to the consolidated financial statements of Bon Natural Life Limited as of September 30, 2020 and 2019, and for the years then ended.

 

/s/ Friedman LLP

 

New York, New York

June 23, 2021

 

 

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