Crypto Flow Technology Ltd. has announced the completion of a placing of new shares under a general mandate. The gross proceeds from the placing amounted to HK$99.5 million, with net proceeds of approximately HK$99.2 million after deducting related expenses. The funds raised will be allocated to technical development and platform expansion of ChainStream (about 50%), post-acquisition integration support (about 25%), enhancement of research and development capabilities (about 4%), and general working capital (about 21%). All placees and their ultimate beneficial owners are independent third parties, and none have become substantial shareholders following the completion of the placing.
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