NaaS Technology Inc. Announces Settlement and Repayment Plan for $35 Million Convertible Note Dispute

Reuters
06/11
NaaS Technology Inc. Announces Settlement and Repayment Plan for $35 Million Convertible Note Dispute

Naas Technology Inc. has announced a settlement agreement to resolve its outstanding obligations related to a US$35 million convertible note issued in October 2024. As part of the agreement, the company has made an initial repayment of US$1.5 million and committed to paying an aggregate of US$15 million in 24 monthly installments starting June 25, 2025. Additionally, Naas Technology Inc. has agreed to issue a warrant to LMR Multi-Strategy Master Fund Limited, allowing LMR to acquire at least 10% of the company's issued share capital if the market capitalization reaches US$90 million. This settlement leads to the withdrawal of a winding-up petition filed against the company and the discontinuation of related arbitration proceedings.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Naas Technology Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001104659-25-058171), on June 10, 2025, and is solely responsible for the information contained therein.

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