newsfilter
← Latest News
GlobeNewswire·

Reitar Logtech Holdings Limited Announces Signing of MOU for Proposed Strategic Equity Investment of up to US$60 Million at US$4.00 per Share

RITR
  • Reitar Logtech Holdings Limited (NASDAQ: RITR) has signed a non-binding MOU with Equator Capital Management SPC for a potential strategic equity investment of up to US$60 million.
  • The investment involves the subscription of newly issued ordinary shares at a price of US$4.00 per share.
  • Proceeds will primarily fund Reitar's capital contribution to a consortium acquiring a controlling interest in a leading international logistics company with operations in Southeast Asia, Europe, & the PRC.
  • Reitar is partnering with a leading industrial private equity firm focused on logistics technology as the consortium partner.
  • Not less than 92% of the investment proceeds are designated for the acquisition, while up to 8% is allocated for transaction fees & working capital.
  • Key conditions for the transaction include satisfactory due diligence, execution of definitive documents, regulatory approvals, the target achieving at least US$8 million in EBITDA, & no material adverse effects.
  • Reitar granted Equator Capital a 90-day exclusivity period prohibiting the company from soliciting competing financing or investment transactions.
  • The MOU is governed by Cayman Islands law & includes binding provisions on exclusivity, confidentiality, costs, & governing law despite being non-binding regarding the transaction itself.
  • The transaction remains subject to negotiation of definitive documents & satisfaction of all conditions precedent, with no assurance of completion.
  • Forward-looking statements regarding the investment, acquisition, & strategic plans are included with associated risks such as regulatory approval & target financial performance.