<SEC-DOCUMENT>0001437749-20-012729.txt : 20200609
<SEC-HEADER>0001437749-20-012729.hdr.sgml : 20200609
<ACCEPTANCE-DATETIME>20200609160511
ACCESSION NUMBER:		0001437749-20-012729
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20200605
FILED AS OF DATE:		20200609
DATE AS OF CHANGE:		20200609

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Li Yubao
		CENTRAL INDEX KEY:			0001795255

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-23115
		FILM NUMBER:		20951844

	MAIL ADDRESS:	
		STREET 1:		4 19/F, 126 ZHONG BEI
		CITY:			WUCHANG DISTRICT
		STATE:			F4
		ZIP:			430061

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Yunhong CTI Ltd.
		CENTRAL INDEX KEY:			0001042187
		STANDARD INDUSTRIAL CLASSIFICATION:	FABRICATED RUBBER PRODUCTS, NEC [3060]
		IRS NUMBER:				362848943
		STATE OF INCORPORATION:			IL
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		22160 N PEPPER RD
		CITY:			BARRINGTON
		STATE:			IL
		ZIP:			60010
		BUSINESS PHONE:		8473821000

	MAIL ADDRESS:	
		STREET 1:		22160 N PEPPER RD
		CITY:			BARRINGTON
		STATE:			IL
		ZIP:			60010

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CTI INDUSTRIES CORP
		DATE OF NAME CHANGE:	19970710
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>rdgdoc.xml
<DESCRIPTION>FORM 4
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0306</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2020-06-05</periodOfReport>

    <issuer>
        <issuerCik>0001042187</issuerCik>
        <issuerName>Yunhong CTI Ltd.</issuerName>
        <issuerTradingSymbol>CTIB</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001795255</rptOwnerCik>
            <rptOwnerName>Li Yubao</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>ROOM 4, 19F</rptOwnerStreet1>
            <rptOwnerStreet2>ZHONGBEI ROAD #126</rptOwnerStreet2>
            <rptOwnerCity>WUHAN HUBEI</rptOwnerCity>
            <rptOwnerState>F4</rptOwnerState>
            <rptOwnerZipCode>430000</rptOwnerZipCode>
            <rptOwnerStateDescription>CHINA</rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isTenPercentOwner>1</isTenPercentOwner>
        </reportingOwnerRelationship>
    </reportingOwner>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Series A Preferred Stock</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>1</value>
                <footnoteId id="F1"/>
                <footnoteId id="F2"/>
                <footnoteId id="F3"/>
                <footnoteId id="F4"/>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2020-06-05</value>
                <footnoteId id="F1"/>
                <footnoteId id="F2"/>
                <footnoteId id="F4"/>
                <footnoteId id="F5"/>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>50000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>10</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F4"/>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F2"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>500000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>500000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By LF International Pte. Ltd.</value>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Pursuant to that certain Stock Purchase Agreement by and between Yunhong CTI Ltd. (formerly known as CTI Industries Corporation, the &quot;Company&quot;) and LF International Pte. Ltd. (&quot;LF&quot;) dated January 3, 2020, as amended, the Company agreed to issue and sell up to 500,000 shares of Series A Convertible Preferred Stock (&quot;Series A Preferred Stock&quot;) of the Company to LF. The parties conducted the first and two interim closings for an aggregate 450,000 shares of Series A Preferred Stock and 400,000 shares of the Company's common stock (&quot;Common Stock&quot;) on January 13, February 28 and April 13, 2020, respectively.</footnote>
        <footnote id="F2">On June 5, 2020, the parties completed a final closing by which the Company issued to LF 50,000 shares of Series A Preferred Stock. Each share of Series A Preferred Stock of the Company is initially convertible into ten (10) shares of Common Stock, subject to certain conditions, and has no expiration date. Mr. Yubao Li has 95% voting and dispositive control over the shares held by the LF and may be deemed the beneficial owner of such Series A Preferred Stock and Common Stock.</footnote>
        <footnote id="F3">Each holder of Series A Preferred Stock shall have the right to convert the stated value of such shares, as well as accrued but unpaid declared dividends thereon (collectively the &quot;Conversion Amount&quot;) into Common Stock. The number of shares of Common Stock issuable upon conversion of the Conversion Amount shall equal the Conversion Amount divided by the conversion price of $1.00, subject to certain customary adjustments, such that each share of Series A Preferred Stock is initially convertible into ten (10) shares of Common Stock.</footnote>
        <footnote id="F4">The Series A Preferred Stock is convertible at any time, except that it may not be converted into shares of Common Stock to the extent such conversion would result in the holder beneficially owning more than 4.99% (&quot;Maximum Percentage&quot;) of the Company's outstanding Common Stock. In connection with the additional interim closing on April 13, 2020, LF waived such Maximum Percentage.</footnote>
        <footnote id="F5">Holders of Series A Preferred Stock shall vote together with the holders of the Common Stock on an as-if-converted basis, whereby each share of the Series A Preferred Stock will be entitled to ten (10) votes, subject to adjustment.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Yubao Li</signatureName>
        <signatureDate>2020-06-09</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
