Loan & DebtJul 27, 2026, 04:32 PM
Addentax Group Converts $703,385 Debt into 146,539 Shares
AI Summary
Addentax Group Corp. has entered into a Loan Conversion Agreement with SEAH CHIA YEE to convert an outstanding loan. The company will issue 146,539 shares of its common stock at a conversion price of $4.80 per share to satisfy a total debt of $703,385, which includes $699,885 in principal and $3,500 in accrued interest. The shares will be issued in reliance on the Regulation S exemption from registration requirements, as the lender is not a "U.S. person."
Key Highlights
- Addentax Group Corp. entered into a Loan Conversion Agreement with SEAH CHIA YEE.
- The company will convert $699,885 in outstanding principal and $3,500 in accrued interest.
- Total debt of $703,385 will be converted into equity.
- 146,539 shares of common stock will be issued to the lender.
- The conversion price is set at $4.80 per share.
- The Conversion Shares will be issued under Regulation S exemption.
Price Impact
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