JIUTAI DIGITAL (06918) has announced that on September 17, 2026, the company intends to issue convertible bonds with a total principal amount of HK$21 million to the subscriber, Miantian Tian Business Co., Ltd.
Upon full conversion at the initial conversion price of HK$0.12 per conversion share (subject to adjustment), a total of 175 million conversion shares will be issued, representing approximately 20.00% of the company's existing issued share capital and approximately 16.67% of the company's issued share capital as enlarged by the issue of the conversion shares.
The net proceeds from the subscription will amount to approximately HK$21 million. The group plans to use the net proceeds from the issuance of the convertible bonds for repaying the group's debts and as general working capital, including repaying employee costs, legal and professional fees, auditor remuneration, rental expenses and other operating expenses.