Naas Technology Inc. has announced a settlement agreement to resolve its outstanding obligations related to a US$35 million convertible note issued in October 2024. As part of the agreement, the company has made an initial repayment of US$1.5 million and committed to paying an aggregate of US$15 million in 24 monthly installments starting June 25, 2025. Additionally, Naas Technology Inc. has agreed to issue a warrant to LMR Multi-Strategy Master Fund Limited, allowing LMR to acquire at least 10% of the company's issued share capital if the market capitalization reaches US$90 million. This settlement leads to the withdrawal of a winding-up petition filed against the company and the discontinuation of related arbitration proceedings.
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