Gelonghui July 28th 丨Pilot Pharmaceutical Biotechnology (00399.HK) announced that on July 27, 2023, the company signed a subscription agreement with the subscriber (that is, Dr. Mao Yumin). Based on this, the subscriber conditionally agreed to subscribe for convertible bonds with a principal amount of HK$55.5 million. Assuming that all convertible bonds are converted at a convertible share price of HK$0.211 per share (subject to adjustment), a maximum of about 263 million converted shares will be distributed and issued, which is equivalent to approximately 17.96% of the company's issued share capital and about 15.23% of the issued share capital expanded through distribution and issuance of converted shares at the date of this announcement.
The subscription price of HK$55.5 million shall be paid by the subscriber under the subscription agreement by offsetting all of the outstanding principal amounts payable by the company to the subscriber under the shareholders' loan of HK$55.5 million on an equal basis.