AMTD IDEA Group announced that it entered into a purchase agreement with GEM Global Yield LLC SCS, a fund managed by Global Emerging Markets or the GEM investor, and GEM Yield Bahamas Limited , a fund managed by Global Emerging Markets for gross proceeds of $50,000,000 in funding on April 26, 2022. The company will issue Class A ordinary shares, at a per-share price equal to 90% of the average daily closing price during a 20-trading-day pricing period determined in accordance with the Share Purchase Agreement, subject to other terms and conditions therein. The investment will be made in reliance upon the provisions of Section 4(a)(2) of the Securities Act and Rule 506 of Regulation D promulgated by the Commission under the Securities Act, and upon such other exemption from the registration requirements of the Securities Act as may be available with respect to any or all of the investments in the Shares to be made hereunder.

The company will raise the proceeds for a period of 72 consecutive months, the Company is entitled to draw down up to an aggregate limit of $50,000,000. The company will pay up to $50,000 attorneys' fees and expenses incurred by the investor.