The MOU outlines the principal terms of a proposed strategic equity investment of up to US$60,000,000 (Sixty Million United States Dollars) in the Company by the Investor, through the subscription of newly issued ordinary shares of the Company at a price of US$4.00 per share (the "Proposed Transaction"). The completion of the Proposed Transaction is subject to the negotiation and execution of definitive transaction documents and the satisfaction of certain conditions precedent.
The proceeds of the proposed investment are intended to primarily fund the Company's participation in a consortium to acquire a controlling equity interest in a leading international logistics company with a significant presence in Southeast Asia, Europe, and the PRC (the "Target"). The Company is partnering in this consortium (the "Consortium") with a leading industrial private equity firm focused on the logistics technology sector, with Assets Under Management of several billion US dollars (the "Consortium Partner").
Mr. John Chan, Chairman and Chief Executive Officer of Reitar, commented: "We are delighted to announce this significant milestone for Reitar. The proposed investment by Equator Capital will provide the Company with the necessary capital to pursue a transformative acquisition that we believe will significantly enhance our competitive position and expand our international footprint. By partnering with a world-class consortium partner and acquiring a leading international logistics platform, we are positioning Reitar to become a truly global player in the logistics technology industry. We believe this strategic initiative will create substantial long-term value for our shareholders."
The principal terms of the MOU are summarized below:
Investment Amount: Up to US$60,000,000 (Sixty Million United States Dollars).
Subscription Price: US$4.00 per newly issued ordinary share of ...
