COCOON HOLDINGS Proposes Issuance of Up to 25.71 Million Placement Shares at Approximately 18.70% Discount

Stock News05-28

On May 28, 2026, COCOON HOLDINGS (00428) announced that it has entered into a placement agreement with a placement agent. The company has appointed the agent to use its best efforts to procure subscribers for up to 25,709,700 placement shares at a price of HK$0.200 per share.

The maximum number of 25,709,700 placement shares represents approximately 20.00% of the company's existing issued share capital as of the date of this announcement. It also represents approximately 16.67% of the company's issued share capital as enlarged by the allotment and issuance of the placement shares, assuming no other changes to the issued share capital between the announcement date and the completion of the placement.

The placement price of HK$0.200 per share represents a discount of approximately 18.70% compared to the closing price of HK$0.246 per share on the Stock Exchange of Hong Kong on May 28, 2026, the date of the placement agreement.

Assuming the maximum number of placement shares is allotted, the gross proceeds from the placement will be approximately HK$5.10 million. The net proceeds are estimated to be approximately HK$5.00 million.

The company intends to use approximately HK$4.00 million of the net proceeds for investment in listed and/or unlisted securities. The remaining balance of approximately HK$1.00 million will be used for the general working capital of the group.

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