BLACK SESAME (02533) plans to issue 53.65 million shares of placement shares, raising a net of 1.237 billion Hong Kong dollars.

BLACK SESAME (02533) announced that on February 19, 2025, the company entered into a placement agreement with the placing agents. The placing agents have conditionally and individually agreed (as the company's placing agents) to use their best efforts to ensure that no fewer than six underwriters subscribe for 53.65 million shares at a placing price of HK$23.20 per share. Assuming that there are no changes in the number of issued shares from the date of this announcement to the completion of the placement, the shares under the placement will represent approximately 9.35% of the issued shares as of the date of this announcement; and the enlarged issued shares resulting from the placement will represent approximately 8.55% of the issued shares. The maximum aggregate nominal value of the shares to be issued and placed will be HK$536.5 million. The placing price of HK$23.20 per share represents a discount of approximately 11.79% compared to the closing price of HK$26.30 per share on the Stock Exchange of Hong Kong on February 18, 2025 (the last trading day and the date of fixing the placing price). Upon completion of the placement, assuming all placed shares are successfully allocated, the expected total proceeds and net proceeds (after deducting placement commission and other related costs and expenses of the placement) are approximately HK$1.245 billion and HK$1.237 billion, respectively. The net proceeds of the placement (after deducting placement commission and other related costs and expenses of the placement) will mainly be used to further support the core technology research and development of the group (including but not limited to next-generation automotive driving chips and IP cores) and cutting-edge technology research and development (including but not limited to end-to-end technologies, Siasun Robot & Automation, and artificial intelligence related technologies); enhance the commercialization capabilities of the group; selectively make strategic investments; and for the general working capital of the company.