Corporate ActionMay 20, 2026, 08:32 AM
NaaS Technology Terminates Warrants for $4.5M Settlement
AI Summary
NaaS Technology Inc. has entered into a Warrant Termination Agreement with LMR MULTI-STRATEGY MASTER FUND LIMITED to irrevocably terminate the LMR Warrants. In consideration for this termination, NaaS Technology will pay an aggregate settlement amount of US$4,500,000. The payment will be made in installments, starting with US$300,000 by June 15, 2026, followed by monthly payments through December 2026. This agreement resolves a prior obligation and removes potential future dilution from the warrants.
Key Highlights
- NaaS Technology Inc. terminated LMR Warrants issued on August 8, 2025.
- The company will pay an aggregate settlement of US$4,500,000 to the holder.
- First installment of US$300,000 is due by June 15, 2026.
- Two monthly installments of US$300,000 are due in June and July 2026.
- Five monthly installments of US$720,000 are due from August to December 2026.
- Original LMR Warrants allowed purchase of 10% of Class A Ordinary Shares.
- Default on payments allows the holder to demand new warrants with adjusted terms.
Price Impact
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