Addentax Group Corp. entered into a definitive agreement on September 28, 2026, to sell a total of 520,834 shares of its common stock to an investor identified as Mr. Chan Kai Sang.
The shares are being sold at a price of $4.80 per share, resulting in aggregate gross proceeds of approximately $2.5 million. The transaction is structured as a private placement and is expected to be conducted in reliance on Regulation S, which provides an exemption from the registration requirements of the Securities Act of 1933.
The company stated that it intends to use the net proceeds from this offering for general corporate purposes, including working capital and potential strategic investments. The closing of the transaction is subject to the satisfaction of customary closing conditions outlined in the agreement.
The shares issued in this transaction will not be registered under the Securities Act and will bear customary restrictive legends. The filing confirms that the investor is not a U.S. person, and the issuance is expected to occur as an offshore transaction.
