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Nashville, TN, January 23, 2025 β UTXO Administration, in partnership with Sora Ventures and others, is proud to announce the acquisition of a majority stake in HK Asia Holdings Restricted (1723.HK), an organization listed on the Hong Kong Inventory Change (HKSE). The acquisition marks a transformational second for the corporate because it proposes to rebrand as Moon Inc. and alerts an intention to discover cryptocurrency investments and Internet 3.0 improvements.
Key factors of the acquisition: Majority stake secured:
1.Majority share secured: UTXO Administration, along with Sora Ventures and others, acquired 70.26% of the issued share capital of HK Asia Holdings Restricted. This positions the brand new controlling shareholders to guide the corporate's strategic improvement.
2. Confirmed experience in market technique: The acquisition group contains UTXO Administration and Sora Ventures, key gamers who pioneered the success of Japan's Metaplanet (3350:Tokyo), also known as βAsia's MicroStrategyβ. The group additionally contains native companions Prime Legend SPC and Allied Prime Investments, whoβve deep expertise within the Hong Kong public markets. This experience will now information the trajectory of Moon Inc. in Hong Kong.
3. Investing in Bitcoin and Internet 3.0: The brand new management group intends to make use of its assets and experience to discover Bitcoin and cryptocurrency investments, Internet 3.0 alternatives and different revolutionary ventures with a transparent deal with producing superior returns for the corporate and shareholders.
4.Subject of convertible bonds: The corporate will challenge HK$33,750,000 value of convertible notes, which can enhance the group's possession curiosity to roughly 74% after full conversion of the convertible notes by the buying events. The proceeds will probably be used for basic working capital to buy pay as you go merchandise corresponding to SIMs and recharge vouchers and to seize potential funding alternatives which will come up, additional cementing the brand new shareholders' dedication to the corporate's future.
5.Rebranding to Moon Inc.: In mild of its renewed mission, the corporate proposes to alter its title from βHK Asia Holdings Restrictedβ to βMoon Inc. This rebranding underscores its aspiration to grow to be a number one power in Hong Kong's dynamic ecosystem.
Strategic imaginative and prescient and wider implications:
Because the world's ninth largest public market by market capitalization, the HKSE offers a sturdy platform for corporations to pioneer new alternatives and foster monetary innovation.
This acquisition is greater than a transaction; it's a daring transfer to create shareholder worth,β stated Tyler Evans, managing accomplice at UTXO Administration. βOur partnership with Sora Ventures builds on a confirmed observe document and weβre excited to guide Moon Inc. to a future the place Hong Kong will proceed to play a major position in world markets.β
Weβre extraordinarily happy to see the launch of the Hong Kong Bitcoin ETF and Hong Kong hosted the most important Bitcoin convention in Asia final 12 months. These are all indicators that Hong Kong is prepared for a extra revolutionary product in its capital market,β stated Jason Fang, Managing Companion and Founding father of Sora Ventures.
The main points of the acquisition, together with the sale and buy settlement and the phrases of the convertible notes, have been collectively introduced by the corporate and the buying events. This discover could be discovered on the HKEX web site right here.
About UTXO administration
UTXO Administration is a pioneering funding agency centered on the Bitcoin ecosystem. With a confirmed observe document of strategic investments in over 60 private and non-private corporations, UTXO goals to form the way forward for monetary expertise.
About Sora Ventures
Sora Ventures is a number one Asian enterprise capital agency devoted to investing within the Bitcoin ecosystem and blockchain expertise. Sora Ventures has greater than 30 portfolio corporations within the Bitcoin ecosystem and is likely one of the most energetic buyers in Web3 media. About Sora Ventures
This press launch is for informational functions solely and doesnβt represent an invite or solicitation of a suggestion to accumulate, buy or subscribe for securities.
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