Zhitong Finance App News, Huiying Holdings (00821) issued an announcement. On July 10, 2026, the Company entered into a placement agreement with the placement agent. According to this, the Company intends to submit a sale as a subscription, and the placement agent has agreed to place and facilitate the subscription of the convertible bonds according to the terms and conditions set forth in the placement agreement. The placement agent must facilitate the subscription of convertible bonds with a total principal amount of up to HK$41.4 million by no less than six (6) undertakers during the placement period.
Assuming that the share exchange rights are fully exercised, the Company will allocate and issue up to 180 million shares, which is equivalent to (i) approximately 48.51% of the total number of issued shares on the date of the placement agreement; and (ii) approximately 32.66% of the total number of issued shares expanded through the allocation and issuance of 180 million shares (assuming that the total number of issued shares will not change from the date of the placement agreement until the conversion date of all convertible bonds).
The initial exchange price of HK$0.23 is approximately 19.30% off of (i) the closing price of HK$0.285 per share as reported on the date of the placement agreement; and (ii) the average closing price of the shares at HK$0.298 per share for the last five consecutive trading days immediately before the date of the placement agreement.
Assuming that the placement agent successfully places all of the convertible bonds, the total amount of proceeds from the placement will be up to HK$41.4 million. The Company intends to use the net proceeds of the placement of approximately HK$40.22 million (after deducting commissions, professional fees and other related costs and expenses due to placement agents) for the following purposes: (A) approximately HK$17.42 million for general working capital, of which: (i) approximately HK$5.82 million will be used to develop the Group's brokerage and finance business segments; and (ii) approximately HK$11.6 million for the Group's recurring expenses, including but not limited to rent expenses, remuneration expenses and other operating expenses; and (b) approximately 22,200 thousand dollars HK$800,000 was used to repay the Group's debts.