361 DEGREES (01361) has announced the successful completion of its placement initiative. According to the terms of the placement and subscription agreement, the placement was finalized on April 30, 2026. A total of 100 million placement shares were allotted to no fewer than six independent placees at a price of HK$6.18 per share.

Subsequently, as all conditions for the subscription were satisfied, the subscription was completed on May 7, 2026, in accordance with the agreement. Consequently, 100 million subscription shares, equivalent to the number of shares actually placed, were issued to the seller at a subscription price of HK$6.18 per share, which matches the placement price.

After deducting related placement commissions, professional fees, and all other applicable expenses borne by the company, the net proceeds from the subscription amounted to approximately HK$610 million.

As previously disclosed, the company intends to allocate the net proceeds as follows: approximately 80% will be used to expand its overseas market network. This includes, but is not limited to, leasing and renovating retail stores, establishing e-commerce platforms, acquiring potential business targets, conducting marketing and brand promotion activities, and setting up overseas subsidiaries. The remaining 20% will be allocated for general working capital and other corporate purposes. This includes supporting the daily operations and ongoing business development of the group's core business, as well as providing seed capital for the establishment of overseas subsidiaries and offices.