Apollo Future Mobility Group Limited announced that it has entered into a subscription agreement for private placement of 156,000,000 convertible bonds at a price of HKD 0.55 per bond for gross proceeds of HKD 85,800,000 on September 13, 2021. The transaction will include participation from Able Catch Limited for HKD 35,100,000, for Vivaldi International Limited for HKD 35,100,000, 45 Yi Capital Holdings Co., Ltd for HKD 15,600,000. The bonds will bear interest rate of 9% per annum payable semi annually and will mature on the 3rd anniversary of the issue date.

The bonds will be convertible into 156,000,000 shares at a conversion price of HKD 0.55 per share. The notes will be unsubordinated, unsecured, and redeemable. The closing will take place on the issue date, which shall be a date on 10th business day after the conditions precedent below are fulfilled.