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Troops, Inc., a miscellaneous business credit institution based in the Cayman Islands, has entered into a significant stock purchase agreement with Wang & Lee Holdings, Inc., according to a Form 6-K filed with the U.S. Securities and Exchange Commission today, May 30, 2025.
On Wednesday, May 28, 2025, Troops Inc. agreed to issue and sell 14,050,000 ordinary shares to Wang & Lee Holdings for a total consideration of $12,645,000. In conjunction with the stock purchase, both parties also signed a lock-up agreement, which restricts the purchaser from selling or otherwise disposing of the shares for a ten-year period following the closing date of the agreement, unless they obtain prior written consent from the company.
The lock-up agreement also stipulates that the purchaser cannot engage in any transactions that would transfer the economic consequences of share ownership, such as swaps or other similar arrangements, nor can they disclose any intention to conduct such transactions. Additionally, Troops, Inc. retains an exclusive option to repurchase the shares at any point before the expiration of the lock-up period.
The details of the stock purchase agreement, which are considered material information for investors and stakeholders, can be found in Exhibit 99.1 attached to the Form 6-K. The exhibit is incorporated by reference and provides a comprehensive description of the terms and conditions of the agreement.
This strategic move by Troops, Inc. and the agreement with Wang & Lee Holdings are part of the company’s broader financial activities, which are disclosed periodically to the SEC and the public as per regulatory requirements. The information disclosed in this report is based on the statement provided in the press release.
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