FOURTH PARADIGM (06682) plans to issue a total of 25.9 million subscription shares to Infini Global Master Fund, raising a net total of 1.306 billion Hong Kong dollars.

FOURTH PARADIGM (06682) announced on July 17, 2025, before the trading hours of the Hong Kong Stock Exchange, that the company has entered into a subscription agreement with the subscriber Infini Global Master Fund. The subscriber has conditionally agreed to subscribe, and the company has conditionally agreed to issue and issue a total of 25.90 million subscription shares, with a subscription price of HK$50.50 per share, for a total consideration of approximately HK$1.308 billion. The number of subscription shares is equivalent to approximately 8.78% of the number of H shares issued as of the date of this announcement and approximately 5.25% of the number of shares issued; and the number of H shares issued as of the date of this announcement and the number of shares issued will be expanded by approximately 8.07% and 4.98%, respectively, after the issuance and issuance of subscription shares (assuming no other changes in issued share capital by the company from the date of this announcement to the completion date). The subscription price of HK$50.50 per share represents a discount of approximately 8.93% to the closing price of H shares on the Hong Kong Stock Exchange on July 16, 2025, which was HK$55.45 per share. On July 17, 2025, before the trading hours of the Hong Kong Stock Exchange, the company entered into a placing agreement with the placing agent regarding the subscription. According to the placing agreement, the placing agent has agreed (among other things) to assist in completing the transactions contemplated under the subscription agreement. The company has agreed to pay the placing agent the fees for these services after the completion of the subscription. The total proceeds from the subscription amount to approximately HK$1.308 billion, and after deducting the fees of the placing agent and other related expenses of the subscription, the net proceeds from the subscription are approximately HK$1.306 billion. The net proceeds from the subscription (after deduction of placement fees and other related costs and expenses of the subscription) will be used for: (1) 50% for research and development investments in products and solutions with comprehensive artificial intelligence capabilities in emerging fields such as embodied intelligence, smart devices, blockchain, real-world assets (RWA), and stablecoins; (2) 40% for global business expansion and potential mergers and acquisitions in emerging fields such as embodied intelligence, smart devices, blockchain, real-world assets (RWA), and stablecoins; and (3) 10% for general corporate purposes. It is reported that the subscriber is managed by Infini Capital Management Limited (Infini Capital). Infini Capital is headquartered in Hong Kong and Abu Dhabi, and is licensed by the Securities and Futures Commission and the Abu Dhabi Global Market Financial Services Regulatory Authority. Infini Capital is wholly owned by a Cayman Islands holding company, Infini Capital Global, with the ultimate beneficial owner being the founder and investment director of Infini Capital, Tony Chin. As of the date of this announcement, no other investor holds more than 30% of the fund's equity, besides Tony Chin.