Reitar Logtech Converts US$2.2M Convertible Notes into Shares
HONG KONG, Sept. 01, 2026 /CourierPR/ -- Reitar Logtech Holdings Limited, a market leader in Hong Kong's smart logistics and automated warehousing sector, has completed the conversion of all outstanding convertible notes issued in December 2025. The company announced that the two senior promissory notes totaling US$2,200,000 have been fully converted into the company’s Class A ordinary shares, effectively eliminating the legacy financing overhang.
On December 21, 2025, and December 24, 2025, Reitar entered into Securities Purchase Agreements with Crom Structured Opportunities Fund I, LP and FirstFire Global Opportunities Fund, LLC, collectively known as the "Investors." Each investor received a senior promissory note with a principal amount of US$1,100,000, for an aggregate purchase price of US$2,000,000. Between July 1, 2026, and August 28, 2026, the Investors exercised their conversion rights, converting the entire outstanding balance of each note into Class A ordinary shares. This conversion process was carried out in accordance with the terms of the notes, ensuring that all principal, original issue discount, and accrued and unpaid interest were fully converted.
Mr. Chan Kin Chung, Chairman and Chief Executive Officer of Reitar, commented on the development: "We are pleased to announce the full conversion and extinguishment of both notes issued in December 2025. This outcome is a positive development for our balance sheet and for our shareholders: the Company has retired US$2.2 million of indebtedness without expending any cash, thereby preserving our liquidity for the continued execution of our growth strategy. We believe the elimination of this debt obligation removes a potential overhang on our capital structure and reflects the confidence of the Investors in the Company’s long-term prospects."
The successful conversion and extinguishment of the notes not only strengthens Reitar’s financial position but also aligns with its strategic focus on enhancing operational efficiency and leveraging technology to drive sustainable growth in the logistics industry. The company remains committed to its mission of integrating intelligent warehousing systems, IoT devices, and data analytics platforms to achieve synergistic growth and promote efficient resource allocation across the logistics industry chain.