FIT HON TENG (06088) plans to sell 1.25 million shares of OWI A round preferred stock and 2.2619 million shares of OWI B-1 round preferred stock.

FIT HON TENG (06088) announced that on March 30, 2026, the company signed an agreement with Origin Wireless, Inc. (OWI) shareholders to sell, subject to certain conditions, and ADT Inc. (an independent third party of the company) agreed to purchase 1.25 million shares of OWI Series A Preferred Stock (at $2.83 per share) and 2.2619 million shares of OWI Series B-1 Preferred Stock (at $7.03 per share) (the transaction). The total consideration for the transaction will not exceed $21.97 million, including $19.42 million in consideration and up to $2.55 million in escrow. The company expects to record additional comprehensive income of up to $9.7 million (pre-tax and expenses) from the transaction. After the completion of the transaction, the company will no longer be a shareholder of OWI.