On July 23, HORIZONROBOT-W fell 4.63% in regular trading, trading at HKD 4.54/share, with turnover of HKD 114 million.

The decline was triggered by the company's announcement after market close on July 22 that it had entered into a subscription agreement with Goldman Sachs (Asia) and Morgan Stanley Asia to issue $450 million in zero-coupon convertible bonds maturing on July 27, 2027. The initial conversion price is set at HKD 5.55 per B-class share, representing a premium of approximately 16.8% over the July 22 closing price of HKD 4.75 and approximately 25.0% over the five-day average closing price of HKD 4.44.

If fully converted, the bonds would result in approximately 636 million new B-class shares, representing about 4.36% of existing issued share capital. Net proceeds of approximately $446 million will primarily be used to pay CARIAD approximately $399 million in cash to early redeem a $925 million convertible loan, including principal repayment and conversion right consideration.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)