Weimob Inc announced that it will issue a total of 90 million US dollars of 7.50% guaranteed convertible bonds due in 2029. The bonds are issued by Weimob Investment Limited as the issuer and unconditionally and irrevocably guaranteed by weimob inc. The issue price of the bonds is 97.625% of the principal amount, with a face value of 0.2 million US dollars per bond. The initial conversion price of the bonds is 1.30 Hong Kong dollars per share, representing a premium of approximately 6.6% to 12.1% over the closing price of the Hong Kong Stock Exchange on August 29, 2024. Assuming full conversion of all bonds, it will be converted into up to 542,090,769 new shares, accounting for approximately 14.98% of the expanded issued share capital. The net proceeds of the bond...Show More

Weimob Inc announced that it will issue a total of 90 million US dollars of 7.50% guaranteed convertible bonds due in 2029. The bonds are issued by Weimob Investment Limited as the issuer and unconditionally and irrevocably guaranteed by weimob inc. The issue price of the bonds is 97.625% of the principal amount, with a face value of 0.2 million US dollars per bond. The initial conversion price of the bonds is 1.30 Hong Kong dollars per share, representing a premium of approximately 6.6% to 12.1% over the closing price of the Hong Kong Stock Exchange on August 29, 2024. Assuming full conversion of all bonds, it will be converted into up to 542,090,769 new shares, accounting for approximately 14.98% of the expanded issued share capital. The net proceeds of the bond issue are approximately 86 million US dollars and will be used for the refinancing of existing debts. The issuer of the bonds and weimob inc also plan to repurchase the SG convertible bonds. The bonds are intended to be listed on the Hong Kong Stock Exchange and will apply for the listing and trading of new shares. The issuance of new shares will be allocated and issued under general authorization, without the need for shareholder approval. The completion of the placement agent agreement is subject to the satisfaction of certain conditions precedent before it can be effective, so it may not be implemented as scheduled.