Wang & Lee Group Inc. has announced an update regarding its acquisition of Solar (HK) Limited from Allied Worldwide Industries Limited. Previously, the company entered into a sale and purchase agreement for the entire share capital of Solar HK for HK$15,000,000. This consideration was to be satisfied through the issuance of a convertible note. On July 17, 2025, Wang & Lee Group Inc. amended the terms of the original convertible notes with Solar HK. The amendment specifies that the conversion price and the automatic conversion price will not fall below a defined floor price. This update follows the initial agreement disclosed on March 13 and April 1, 2025.
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