Coolpad Group Limited announced that it has entered into a Subscription Agreements with each of the subscribers and the guarantors, pursuant to which the company has conditionally agreed to allot and issue, and the subscribers have conditionally agreed to subscribe for, an aggregate of 2,730,000,000 subscription shares at the subscription price of HKD 0.033 per subscription share for the gross proceeds of HKD 90.09 million on August 27, 2023. The subscription shares represent approximately 20% of the existing issued share capital of the company as at the date of this announcement and approximately 16.67% of the issued share capital of the company as enlarged by the allotment and issue of the subscription shares. The subscription shares will be allotted and issued under the General Mandate.

Pursuant to the Subscription Agreements, each of the subscribers undertakes to the company that it will not offer, lend, pledge, charge, issue, sell, mortgage, assign, dispose of, or otherwise grant or create any options, rights, interests or encumbrances, either directly or indirectly and agree or contract to enter into any transaction conditionally or unconditionally in respect of any of the subscription shares for a period of three months from the date of the issuance of the subscription shares to the subscribers without the prior written consent of the company.