HK ACQ-Z (07841) signs two new PIPE investment agreements.

HK ACQ-Z (07841) announced that on June 28, 2024, the company and the target companies (Synagistics Pte. Ltd. and Merger Sub) entered into nine PIPE investment agreements with nine PIPE investors. As a result, upon completion of the merger, the company has conditionally agreed to issue 60.124 million shares of PIPE investment shares, with a total subscription price of approximately HK$601 million or HK$10.00 per share of PIPE investment shares. According to the PIPE investment agreement (Oakwise PIPE Investment Agreement) dated June 28, 2024, between the company, the target companies, and Oakwise Innovation Fund SPC - New Opportunity SP III, Oakwise Innovation Fund SPC - New Opportunity SP III has agreed to subscribe for 16 million shares of PIPE investment shares at a subscription price of HK$160 million. On September 20, 2024, the company, target companies, Oakwise Innovation Fund SPC - New Opportunity SP III, and Oakwise Value Fund SPC - Greater China High Yield Income SP entered into a replacement and amendment agreement (Oakwise Replacement and Amendment Agreement), whereby Oakwise Innovation Fund SPC - New Opportunity SP III transferred its rights and obligations under the Oakwise PIPE Investment Agreement to Oakwise Value Fund SPC - Greater China High Yield Income SP; and as a result, the number of PIPE investment shares to be subscribed under the Oakwise PIPE Investment Agreement will be changed to 4 million shares, with a subscription price of HK$40 million. On September 20, 2024, the company, target companies, and Carnegie Hill Greater Bay Area Investment Co., Limited (Carnegie Hill) entered into a termination agreement (Carnegie Hill Termination Agreement), whereby the PIPE investment agreement and all agreements and transactions (including Carnegie Hill's subscription for 7 million shares of PIPE investment shares at a subscription price of HK$70 million) entered into on June 28, 2024, with Carnegie Hill will be terminated with immediate effect. Therefore, Carnegie Hill will no longer be a PIPE investor in the special purpose acquisition company acquisition transaction. After trading hours on September 20, 2024, the company and target companies entered into two PIPE investment agreements with two new PIPE investors (Lin Wenchan and Focus Profit Limited), whereby the company will issue a total of 14 million shares of successor company shares to the new PIPE investors, with a total subscription price of HK$140 million, or HK$10.00 per share of successor company shares.