Futu Holdings (08229) announced that on June 7th, 2024, the company entered into a subscription agreement with subscriber Huang Zhenxiu. The subscriber conditionally agreed to subscribe and the company conditionally agreed to issue convertible notes with a total principal amount of HKD 2 million. The conversion price per share of convertible shares is HKD 0.50.

Assuming all convertible shares are converted at the preliminary conversion price of HKD 0.50 per share, a total of 4 million convertible shares will be issued, equivalent to approximately 0.73% of the total issued share capital of the Company on the date of this announcement, and approximately 0.73% of the total issued share capital of the Company as enlarged by the issue of the convertible shares (assuming no other changes in the issued share capital of the Company after the date of this announcement, other than the issue of the convertible shares).

After deducting expenses, the estimated net proceeds from the subscription will be approximately HKD 1.9 million. The net proceeds are intended to be used for the operating and business expansion of Superior Investments after completing the acquisition. If the acquisition cannot be completed, the net proceeds will be used as general working capital of the Group.