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Nashville, TN, January 23, 2025 – UTXO Administration, in collaboration with Sora Ventures and others, proudly publicizes the acquisition of a majority stake in HK Asia Holdings Restricted (1723.HK), an organization listed on the Hong Kong Inventory Alternate (HKSE). The acquisition marks a transformative second for the corporate because it proposes to rebrand itself as Moon Inc. and alerts an intention to discover cryptocurrency investments and Internet 3.0 innovation.
Key Highlights of the Acquisition:Majority Stake Secured:
1.Majority Stake Secured: UTXO Administration, alongside Sora Ventures and others, has acquired 70.26% of the issued share capital of HK Asia Holdings Restricted. This positions the brand new controlling shareholders to steer the corporate’s strategic evolution.
2.Confirmed Experience in Market Technique: The acquisition group contains UTXO Administration and Sora Ventures, key gamers who pioneered the success of Japan’s Metaplanet (3350:Tokyo), sometimes called “Asia’s MicroStrategy.” The group additionally contains native companions High Legend SPC and Allied High Investments who’ve deep expertise in Hong Kong’s public markets. This experience will now information Moon Inc.’s trajectory in Hong Kong.
3.Funding in Bitcoin and Internet 3.0: The brand new management group intends to leverage its sources and experience to discover Bitcoin and cryptocurrency investments, Internet 3.0 alternatives, and different modern ventures, with a transparent give attention to producing superior returns for the corporate and the shareholders.
4.Convertible Notes Issuance: The Firm will difficulty convertible notes amounting to HK$33,750,000, which can enhance the group’s possession stake to round 74% upon full conversion of the convertible notes by the buying events. Proceeds will likely be used for common working capital for the acquisition of pre-paid merchandise akin to SIM and top-up vouchers and for capturing potential funding alternatives which can come up, additional solidifying the brand new shareholders’ dedication to the corporate’s future.
5.Rebranding to Moon Inc.: Reflecting its renewed mission, the corporate proposes to alter its identify from “HK Asia Holdings Restricted” to “Moon Inc.” This rebranding underscores its aspiration to turn into a number one drive in Hong Kong’s dynamic ecosystem.
Strategic Imaginative and prescient and Broader Implications:
Because the ninth largest public market globally by market capitalization, HKSE supplies a strong platform for the Firm to pioneer new alternatives and drive monetary innovation
This acquisition is greater than a transaction; it’s a daring step towards creating worth for shareholders,” stated Tyler Evans, Managing Accomplice at UTXO Administration. “Our partnership with Sora Ventures builds on a confirmed observe document, and we’re excited to steer Moon Inc. right into a future the place Hong Kong will proceed to play an outsized position in world markets.”
We’re extraordinarily excited to see the launch of Hong Kong’s Bitcoin ETF and Hong Kong being the host for Asia’s largest Bitcoin convention final yr. These are all alerts that Hong Kong is prepared for a extra modern product of their capital market”, stated Jason Fang, Managing Accomplice and Founder at Sora Ventures.
Particulars of the acquisition, together with the Sale and Buy Settlement and phrases of the convertible notes, have been collectively introduced by the Firm and the buying events. That announcement could be discovered on the HKEX web site right here.
About UTXO Administration
UTXO Administration is a pioneering funding agency with a give attention to the Bitcoin ecosystem. With a confirmed historical past of strategic investments in additional than 60 private and non-private corporations, UTXO goals to form the way forward for monetary know-how.
About Sora Ventures
Sora Ventures is Asia’s main enterprise capital agency devoted to investing within the Bitcoin ecosystem and blockchain know-how. Sora Ventures has greater than 30 portfolio corporations within the Bitcoin ecosystem and is likely one of the most lively traders in Web3 media. About Sora Ventures
This press launch is for informational functions solely and doesn’t represent an invite or a solicitation of a suggestion to amass, buy or subscribe for securities.
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