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Top Win International Limited (NASDAQ:SORA) announced Friday that it has entered into securities purchase agreements with certain investors to issue convertible notes totaling $10 million in principal. The notes will be sold at par, carry a 3.0% annual interest rate, and mature in three years. They are convertible into ordinary shares of the company at an initial conversion price of $4.64 per share.
The company stated that the closing of the sale and purchase of these notes is subject to customary closing conditions and is expected to take place on or before August 20. Details of the agreements, including the form of the notes, are included in the company’s filing with the Securities and Exchange Commission.
Top Win International also disclosed that it has terminated a previous securities purchase agreement dated July 26, 2025, with an investor. That agreement had involved the sale of a $3.05 million convertible note at an initial conversion price of $8.79 per share. The termination was attributed to evolving market conditions.
The information in this article is based on a press release statement included in the company’s Form 6-K filing with the SEC.
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