Gelonghui August 9th 丨HMVOD Video (08103.HK) announced that on August 8, 2023, the company signed a subscription agreement with the subscriber (that is, Mr. Cheng Chi-hang and MadWorld) to issue convertible bonds with a total principal amount of HK$12 million at an exchange price of HK$0.60 per share.
According to the share exchange price of HK$0.60, after exercising all of the share exchange rights attached to the convertible bonds, a maximum of 20 million shares can be distributed and issued, accounting for about 18.54% of the company's current issued share capital and an increase of about 15.64% of the issued share capital due to the issuance and distribution of convertible shares. The total amount of proceeds from the issuance of convertible bonds will be approximately HK$12 million. The company intends to use the net proceeds for group business operations and general working capital.