Arta TechFin Corporation Limited announced that it has entered into a bond subscription agreement for gross proceeds of HKD 40 million on May 16, 2023. The company will issue convertible bonds in the transaction. The bonds will bear interest from and including the date of issue of the bonds, at a rate of 8% per annum payable quarterly in arrear in equal instalments.

The bonds will mature two years from the date of issue of the bond which is May 16, 2025. The initial conversion price of HDK 0.13475 per share, if the conversion rights attaching to the bonds have been exercised in full, there having been no exercise of any redemption rights in respect of the bonds; and there has been no adjustment to the conversion price pursuant to the conditions, a maximum of 296,846,011 conversion shares will be allotted and issued upon full conversion of the bonds. The bond closing will take place within two business days after the date upon which the last of the conditions set out in the section headed the bond subscription agreement have been satisfied or such later date, not being later than June 5, 2023.