Highest Performances Holdings Inc. (NASDAQ: HPH) Secures a Share Purchase Agreement from GEM Global Yield LLC SCS (“GEM”) for an Investment of up to US$500 Million [Yahoo! Finance]
Highest Performances Holdings Inc. - American Depository Shares (HPH)
Company Research
Source: Yahoo! Finance
it has signed a share purchase agreement (the “Agreement”) with GEM Global Yield LLC SCS (“GEM”), a Luxembourg-based private alternative investment group. Under the Agreement, HPH has the option to issue and sell up to a number of ordinary shares (as represented by and delivered as American depositary shares) with an aggregate value of US$500,000,000 (the “Aggregate Limit”). Subject to the terms and conditions of the Agreement, HPH may increase the Aggregate Limit up to US$1,000,000,000 at a later date by delivering prior written notice to GEM. The funds will be used to fuel the Company's AI development and expansion efforts on a global scale. During the three years from the date of signing the Agreement (the “Investment Period”), HPH will control the timing and maximum amount of the drawdown under this facility and has no minimum drawdown obligation. HPH has the option to issue shares to GEM at its own discretion within the Investment Period. HPH has agreed to pay a commitment fee
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