Metaspacex Limited (1796) released a supplemental announcement regarding the subscription of 16.70 million new shares at a price of HK$3.00 per share, generating gross proceeds of HK$50.10 million. According to the announcement, the net proceeds amount to HK$50.00 million.

Half of the net proceeds (HK$25.00 million) is earmarked for developing business cooperation with Guangzhou Xinglun Safety Industry Co. in areas such as the Industrial Internet of Things, industrial software, and smart manufacturing. The remaining HK$25.00 million is allocated to general working capital, with HK$15.00 million for subcontracting charges and construction-related costs, and HK$10.00 million for staff expenses. All amounts are expected to be utilized by the end of 2026.

The subscription is subject to conditions set out in the subscription agreement and may or may not proceed. Interested parties are advised to stay informed of any further updates from Metaspacex Limited.