Core Viewpoint - Rectitude Holdings Ltd. is initiating a Bitcoin treasury strategy through a Standby Equity Purchase Agreement (SEPA) to raise up to $32,625,000 for Bitcoin purchases and general corporate purposes [1][2][4] Group 1: SEPA Details - The SEPA allows the Company to issue ordinary shares at a 2.5% discount to the lowest daily volume-weighted average price over three consecutive trading days [2][3] - There are no mandatory minimum drawdowns or penalties for not utilizing the Commitment Amount under the SEPA [3] Group 2: Bitcoin Strategy - The Company plans to acquire and hold Bitcoin long-term using excess cash flows from operations, with no specific target for the amount of Bitcoin to hold [4][5] - The strategy includes the potential sale of Bitcoin for corporate purposes or tax planning, and the Company may consider hedging strategies in the future [5][6] Group 3: Management Perspective - The Chairman and CEO emphasized that holding Bitcoin is a strategic move to safeguard shareholder value and position the Company for a digital future [7] - The SEPA is viewed as a flexible and efficient source of capital to support the Bitcoin treasury strategy and strengthen the balance sheet [7] Group 4: Company Background - Rectitude Holdings Ltd. was founded in 1997 in Singapore and specializes in safety equipment, including personal protective clothing and industrial hardware tools [8][9] - The Company's products are marketed across Southeast Asia, including countries like Brunei, Cambodia, Malaysia, Indonesia, and Vietnam [9]
Rectitude Holdings Announces $32.6 Million Standby Equity Purchase Agreement to Launch a Bitcoin Treasury Strategy