News summary
Fubo Group successfully issued 1playgamesandearnnft.60 million HK$100 million convertible bondsplaygamesandearnnft, annual interest rate of 3%playgamesandearnnft, conversion price 1playgamesandearnnft.83 Hong Kong dollars, a premium of 37%. The funds will be used for AIGC's business development and debt repayment.
Newsletter text
[Fubo Group successfully issued HK$160 million convertible bonds]
Fubo Group (03738) announced on May 24, 2024 that it had successfully issued convertible bonds with a total principal amount of approximately HK$160 million, with an annual interest rate of 3% and a conversion price of HK$1.83, a premium of approximately 37% compared to the closing price of the day.
The proceeds from this issuance of convertible bonds will be mainly used to promote the development and investment of artificial intelligence generated content (AIGC)-related businesses, and partially used to repay existing interest-bearing borrowings.
It is worth noting that the company's AI R & D and operation center in Florida, USA, has been officially put into use, marking the further expansion of Fubo Group in the field of artificial intelligence.