METASPACEX (01796) has announced the signing of a subscription agreement with a subscriber on February 13, 2026. Under the agreement, the company will issue and allot 16.7 million subscription shares to the subscriber at a price of HK$3.0 per share. The subscription price of HK$3.0 per share represents a discount of approximately 2.6% compared to the closing price of HK$3.08 per share as quoted on the Stock Exchange on the date of the agreement.

The gross proceeds from the subscription are expected to be approximately HK$50.1 million, with net proceeds of about HK$50 million. The company intends to use the net proceeds for the following purposes: business cooperation with Guangzhou Xinglun Security Industrial Co., Ltd. in areas such as industrial Internet of Things, industrial software, and smart manufacturing; and/or for general working capital purposes.

Assuming no changes to the company's issued share capital between the date of this announcement and the completion date, apart from the subscription, the total number of subscription shares will represent approximately 3.5% of the company's existing issued share capital and about 3.4% of the enlarged issued share capital following the issuance of the subscription shares. The subscription shares will be issued under the general mandate.