Summary by Moomoo AI
DAXION CLOUD HOLDINGS LIMITED (“DAXION CLOUD”) ANNOUNCED THAT IT WILL CONDUCT A PUBLIC OFFERING TO OFFER A TOTAL OF 400,000,000 SHARES OF PUBLIC OFFERING, PRICED AT HK$0.15 PER SHARE, WITH AN EXPECTED NET RAISING OF APPROXIMATELY HK$58.79 MILLION. The public offering will not be presented to ineligible shareholders and set a record date on which shareholders must be registered as shareholders of the company and eligible shareholders may participate. The underwriter is the principal shareholder of the company, holding approximately 16.31% of the shares and has agreed to divest the untendered shares. The success of the public offering is subject to the approval of an independent shareholder at the special general meeting and is subject to a purge exemption for the subcontractors. THE COMPANY HAS ESTABLISHED AN INDEPENDENT BOARD OF DIRECTORS AND APPOINTED INDEPENDENT FINANCIAL ADVISORS TO ADVISE INDEPENDENT SHAREHOLDERS ON THE PUBLIC OFFERING AND RELATED TRANSACTIONS. Proceeds from the fundraising will be used to purchase media resources from TikTok and as general operating capital.