Core Viewpoint - The company, Huaxi Media, has entered into a share subscription agreement with C River Co to issue 548 million shares at a subscription price of approximately HKD 0.30 per share, representing a discount of about 22.08% compared to the market price on the agreement date [1] Group 1: Share Subscription Agreement - The subscription price of HKD 0.30 per share is a discount of approximately 22.08% compared to the closing price of HKD 0.385 on the date of the agreement [1] - The shares to be issued represent about 15.00% of the existing issued share capital of the company as of the announcement date, and approximately 13.04% of the enlarged issued share capital post-issuance [1] Group 2: Warrant Subscription Agreement - The company has also entered into a warrant subscription agreement, agreeing to issue warrants at an exercise price of HKD 0.44 per share, with a total issuance price of HKD 0.45 per warrant [2] - The exercise price represents a premium of approximately 14.29% over the closing price of HKD 0.385 on the last trading day [2] - If all warrants are exercised, it will result in the issuance of up to 1.889 billion shares, which is about 51.66% of the existing share capital as of the announcement date [2] Group 3: Board's Perspective - The board believes that the subscription and warrant agreements are a good opportunity to raise additional funds for business operations and to expand the shareholder base [3] - The board asserts that the warrant subscription will not have an immediate dilution effect on existing shareholders, and the warrants do not bear interest [3] - The board considers that the combined approach of subscription and warrants will result in lower immediate dilution compared to issuing new shares alone [3]
欢喜传媒拟向C River Co发行5.48亿股认购股份