Gelonghui April 9 | Delin Holdings (01709.HK) announced that the terms of the placement agreement have been satisfied, and the completion of the placement occurred on April 9, 2024. In accordance with the terms and conditions of the placement agreement, the placement agent successfully placed a total of 64,370,000 shares at the placement price of HK$3.50 per share to no less than six undertakers, accounting for approximately 4.24% of the shares already issued following the expansion of allotment and issuance of the placed shares after completion.
The net proceeds from the placement of approximately HK$223.7 million are intended to be used for the following purposes: (i) approximately HK$130.0 million to repay debts, including but not limited to acceptance notes, other bank loans and payables issued by the company in connection with the acquisition of Delin Family Offices (Hong Kong) Limited; (ii) approximately HK$35.0 million for indirect investment in Delin Tower; (iii) approximately HK$15.0 million for fund investments, including but not limited to Hong Kong Multi-Strategy Fund and Limited Partnership Fund; (iv) approximately HK$15.0 million to invest in the US No. 1 Carmel Top Residence Project; (v) approximately HK$10.0 million for further investment, research and development of the company's artificial intelligence family office system (DL-GPT); (vi) approximately HK$5.0 million to invest in IT equipment and upgrade IT systems; and (vii) the remaining amount of approximately HK$13.7 million to supplement the Group's working capital.