ClouDr Group (HKG:9955) signed an agreement to issue $4.5 million in convertible bonds to four investors with a 10% annual interest rate and a two-year maturity, according to a Monday filing with the Hong Kong bourse.
Bondholders can convert them into company shares at HK$2.10 per share, subject to adjustments. If fully converted, 16.7 million new shares will be issued, representing about 2.58% of the company's current share capital.
The company plans to use the proceeds for business development and general expenses. The deal is subject to regulatory conditions.
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