SILKWAVE INC plans to issue new shares at a premium of 3.66%, raising a net of HKD 4.765 million

SILKWAVE INC (00471.HK) announced that on February 11, 2025, the company entered into a subscription agreement with subscribers for the subscription of a total of 5.7 million new shares, equivalent to approximately 5.98% of the enlarged share capital, at a subscription price of HKD 0.85 per share, with a total consideration of approximately HKD 4.845 million. The subscription price represents a premium of approximately 3.66% over the closing price of HKD 0.82 per share on February 11, 2025 (the date of the subscription agreement). The net proceeds (after deducting expenses) are expected to be approximately HKD 4.765 million. The company intends to use the net proceeds for the group's general working capital, with approximately HKD 2 million expected to be used for professional fees, and approximately HKD 2.8 million for employee salaries, office rent, and other operating and utility expenses, which are expected to be fully utilized by June 2025