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BRIEF-New Focus Auto Tech announces issue of convertible notes due 2019
August 21, 2017 / 3:11 PM / 3 months ago

BRIEF-New Focus Auto Tech announces issue of convertible notes due 2019

Aug 21 (Reuters) - New Focus Auto Tech Holdings Ltd

* Entered into convertible note purchase agreement with high inspiring limited

* Convertible notes in an aggregate principal amount of us$35 million due in 2019

* Net proceeds from issue of convertible notes are estimated to be about $34.5 million

* New focus auto tech holdings says initial conversion price is HK$0.306085 per share

* Intends to use proceeds from issue of convertible notes for expansion of retail distribution of automotive parts and accessories Source text for Eikon: Further company coverage:

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