Amendment: SEC Form SC 13D/A filed by Scienjoy Holding Corporation

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934 (Amendment No. 1)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box  ☐.

Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See 240.13d-7(b) for other parties to whom copies are to be sent.

*The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

SCHEDULE 13D

SCHEDULE 13D

EXPLANATORY NOTE

This Amendment No.1 to Schedule 13D (this “Schedule 13D/A”) is filed on behalf of Wolter Global Investment Limited (“Wolter Global”), a company organized under the laws of the British Virgin Islands and Guo Junpeng, a citizen of the People’s Republic of China (each a “Reporting Person”, and, collectively, the “Reporting Persons”).

This Schedule 13D/A is being filed on behalf of the Reporting Persons to update certain transactions, including the ownership percentages of the Reporting Persons, as reported in the Schedule 13D filed by the Reporting Persons with the SEC on March 30, 2022.

Unless otherwise indicated herein, each capitalized term used but not otherwise defined herein shall have the meaning assigned to such term in the Schedule 13D.

The title and class of equity securities to which this Statement on Schedule 13D/A relates to the beneficial ownership of the Class A Ordinary Share, with no par value of Scienjoy Holding Corporation, a British Virgin Islands corporation (the “Issuer” and such shares, the “Class A Ordinary Share”). The Issuer’s principal executive office is located at RM 1118, 11th Floor, Building 3, No. 99 Wangzhou Rd., Liangzhu St, Yuhang District, Hangzhou, Zhejiang Province, 311113, China.

The Schedule 13D/A is being jointly filed by Wolter Global and Guo Junpeng.

The Reporting Persons entered into a Joint Filing Agreement on March 30, 2022 (the “Joint Filing Agreement”), pursuant to which they have agreed to file the Schedule 13D and future amendments thereto, including this Schedule 13D/A jointly in accordance with the provisions of Rule 13d-1(k)(1) under the Securities Exchange Act of 1934, as amended. A copy of the Joint Filing Agreement is attached hereto as Exhibit 4.

Wolter Global is a company established for the purpose of doing NFT related business. The principal office of Wolter Global is located at 306-07, No.8 Xingliang Road, Daliang Town, Wuqing District, Tianjin, China.

Guo Junpeng is the sole director and sole shareholder of Wolter Global. Guo Junpeng is a citizen of the People’s Republic of China with the business address located at 306-07, No.8 Xingliang Road, Daliang Town, Wuqing District, Tianjin, China. The principal occupation of Guo Junpeng is the director of Wolter Global.

During the last five years, none of the Reporting Persons has been convicted in any criminal proceeding (excluding traffic violations or similar misdemeanors).

During the last five years, none of the Reporting Persons has been a party to any civil proceeding of a judicial or administrative body of competent jurisdiction as a result of which it was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.

Pursuant to the Equity Acquisition Framework Agreement by and among the Issuer, Golden Shield Enterprises Limited (“Golden Shield”), Beijing Weiliantong Technology Co., Ltd., Tianjin Yieryi Technology Co., Ltd., Wolter Global and Qingdao Weilaijin Industry Investment Fund Partnership (Limited Partnership) dated December 29, 2021 (the “Framework Agreement”) and Form of Share Transfer Agreement between Scienjoy Inc. and Wolter Global (the “Share Transfer Agreement”), Wolter Global exchanged all the shares it held in Golden Shield for 3,898,511 Class A Ordinary Shares of the Issuer, equals to 80% of the aggregate share consideration to Wolter Global under the Framework Agreement and the Share Transfer Agreement. Therefore, the shares of Golden Shield held by Wolter Global were the consideration for the 3,898,511 Class A Ordinary Shares of the Issuer acquired by Wolter Global.

In March 2023, Wolter Global sold 116,711 Class A Ordinary Shares to a third-party individual.

In April 2023, the Issuer issued 487,314 Class A Ordinary Shares to Wolter Global for the achievement of earnout target pursuant to the Framework Agreement.

In April 2024, the Issuer issued 403,089 Class A Ordinary Shares to Wolter Global for the partial achievement of earnout target pursuant to the Framework Agreement.

The description in Item 3 of this Schedule 13D/A is incorporated herein by reference.

The purpose of the transaction purported hereunder is part of the plan to expand the Issuer’s business in the live entertainment mobile streaming platform through the share exchange.

Pursuant to the Framework Agreement and the Share Transfer Agreement, Scienjoy Inc., a wholly owned subsidiary of the Issuer, acquired all of the issued and outstanding equity interests of Golden Shield from Wolter Global. The consideration for the equity interest of Golden Shield have been issued as follows: (i) within twenty (20) business days following the closing, the Issuer has issued 3,898,511 Class A Ordinary Shares of the Issuer to Wolter Global, which is the 80% of the aggregate share consideration to Wolter Global under the Framework Agreement and the Share Transfer Agreement; and (ii) the remaining 20% shall be issued in two equal installments if Golden Shield shall have achieved the respective performance goal for the year 2022 and 2023. In May 2023, the Issuer issued 487,314 Class A Ordinary Shares to Wolter Global for the achievement of earnout target pursuant to the Framework Agreement. In April 2024, the Issuer issued 403,089 Class A Ordinary Shares to Wolter Global for the partial achievement of earnout target pursuant to the Framework Agreement.

Pursuant to the Form of Resale Lock-Up Agreement between the Issuer and Wolter Global (“Resale Lock-Up Agreement”), Wolter Global agrees to be subject to a 180-day lock-up period.

A copy of each of the Framework Agreement, the Share Transfer Agreement and Resale Lock-Up Agreement is attached hereto as Exhibit 1, 2 and 3 respectively and is incorporated herein by reference. The foregoing summary descriptions of each of the Framework Agreement, the Share Transfer Agreement and Resale Lock-Up Agreement do not purport to be complete and are qualified in their entirety by reference to the full text of Exhibit 1, 2 and 3.

On March 8, 2023, Wolter Global sold 116,711 Class A Ordinary Shares to a third-party individual pursuant to a Stock Block Trading Agreement. A copy of the Stock Block Trading Agreement is attached hereto as Exhibit 5 and is incorporated herein by reference.

Other than as described in this Item 4, the Reporting Persons do not have any current plans or proposals that relate to or that would result in any of the transactions or other matters specified in clauses (a) through (j) of Item 4 of Schedule 13D/A; however, the Reporting Persons may change their purpose or formulate different plans or proposals with respect thereto at any time.

The information set forth in Item 3, 4 and 5 is hereby incorporated by reference in this Item 6.

Except as described above or elsewhere in this Schedule 13D/A, there are no contracts, arrangements, understandings or relationships (legal or otherwise) among the persons named in Item 2 of this Schedule 13D/A, and to the best of the knowledge of the Reporting Persons, between such persons and any person with respect to any securities of the Issuer, including but not limited to any contracts, arrangements, understandings or relationships concerning the transfer or voting of such securities, finder’s fees, joint ventures, loan or option arrangements, puts or calls, guarantees of profits, division of profits or losses, or the giving or withholding of proxies.

Signature

After reasonable inquiry and to the best of the knowledge and belief of the undersigned, each of the undersigned certifies that the information set forth in this statement is true, complete and correct.