Summary by Moomoo AI
Cornerstone Technology Holdings Limited announced the termination of the original convertible bond subscription agreement with a total amount of 34,450,000 Hong Kong dollars on August 1, 2024, and signed a new subscription agreement with the subscription agent Jianquan Financing Co., Ltd. on August 2, 2024, planning to distribute a maximum of 65,000,000 new shares at a subscription price of 0.53 Hong Kong dollars per share. The subscription price is about 15.87% to 19.70% lower than the market price. The company expects a net amount of approximately HKD 32,700,000 from this distribution, which will be used for capital expenditures and general operating funds for expanding the Hong Kong electric vehicle charging project. In addition, the company's shares were suspended from trading on August 1, 2024 and resumed trading on August 5, 2024. The company emphasized that the completion of the subscription is subject to the fulfillment of preconditions and reminded shareholders and potential investors to trade carefully.