Gelonghui August 28th 丨Coolpad Group (02369.HK) announced that on August 27, 2023, the company, these subscribers and their guarantors each entered into such subscription agreements. According to this, the company already has conditions to agree to distribute and issue, and those subscribers have conditionally agreed to subscribe for a total of 2.73 billion subscribed shares, with a subscription price of HK$0.033 per subscribed share.
The subscribed shares account for about 20.00% of the company's current issued share capital and about 16.67% of the expanded issued share capital through the allocation and issuance of subscribed shares. The subscription price of HK$0.033 per share is approximately 13.2% off from the stock's closing price of HK$0.038 per share on the Stock Exchange on the last trading day.
The total amount of proceeds from these subscription transactions will be HK$9.09 million. The estimated net proceeds from these subscription transactions will be approximately HK$89 million. The company plans to use about 80 million yuan (or about 89.9%) of the net proceeds from these subscription transactions to meet the new supply chain procurement demand generated by the Group's expansion of mobile phone business in China. It is expected that all of it will be used by June 30, 2024; and (ii) about 9 million yuan (or about 10.1%) will be allocated to the Group's general working capital, which is expected to be fully used by June 30, 2024.