High-Trend International Group

High-Trend International Group announced the pricing and closing of a registered direct offering, raising approximately $15 million in gross proceeds. The company issued 2,307,700 Class A Ordinary Shares to institutional investors at $6.50 per share. A.G.P./Alliance Global Partners served as the exclusive placement agent, earning a 7.0% cash fee and expense reimbursements. The net proceeds are intended for working capital and general corporate purposes.

High-Trend International Group announced the cancellation and retirement of 630,000 Class A ordinary shares. These shares were previously issued to Streeterville Capital, LLC, and were returned to the Company after it fully satisfied all related financing obligations. Chairman Christopher Nixon Cox stated that this action will optimize the Company's capital structure, reduce potential dilution, and provide greater flexibility for future business strategy.

High-Trend International Group's Class A shareholders and general shareholders approved significant corporate governance enhancements. These include increasing the voting rights of Class B ordinary shares from 20 to 100 votes and expanding the authorized share capital from US$1,250,000 to US$5,275,250. The Board was also granted discretionary authority to consolidate Class A ordinary shares at a ratio up to 1000:1 within two years. The company adopted its Fourth Amended and Restated Memorandum and Articles of Association, reflecting these changes and establishing that certain major corporate actions require the prior written consent of the Majority of Class B Holders.

High-Trend International Group announced it paid Streeterville Capital, LLC $4,191,247.42 to settle all outstanding obligations, including a $3.23 million note. This settlement resulted in the termination of their Securities Purchase Agreement and the return of 630,000 Class A ordinary shares to the Company. Separately, the Company sold an unsecured promissory note for $2.6 million to Mr. Jinyu Chang, its controller and former Chairman, with a 5% annual interest rate.