Corporate ActionMay 18, 2026, 06:26 AM
J-Star Holding Converts $8.2M Loan to Equity; CEO's Stake Rises
AI Summary
J-Star Holding Co., Ltd. announced the conversion of an US$8.2 million outstanding loan from Chiang Yu-Ning, a family member of CEO Mr. Jing-Bin Chiang, into Class A ordinary shares. The conversion will occur at a price of US$4.00 per share, which is greater than the company's recent closing and average trading prices. This transaction will result in the issuance of 2,050,000 Class A Ordinary Shares, increasing Mr. Chiang's total voting power to approximately 81.88%. The board and audit committee approved the transaction as a related party deal.
Key Highlights
- J-Star Holding converts US$8.2 million outstanding loan into Class A ordinary shares.
- Conversion price set at US$4.00 per share, higher than recent market prices.
- Company to issue 2,050,000 Class A Ordinary Shares to the lender, directed to CEO Mr. Jing-Bin Chiang.
- Post-conversion, CEO Mr. Chiang will hold approximately 81.88% of total voting power.
- Transaction was reviewed and approved by the board of directors and audit committee as a related party transaction.
Price Impact
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