IMMUNOTECH-B (06978) plans to issue new convertible bonds worth 270 million yuan and promissory notes worth 30 million yuan.

IMMUNOTECH-B (06978) announces that on February 9, 2026, the company, investors, and related parties have entered into a subscription agreement. The company conditionally agrees to issue, and investors conditionally agree to subscribe to, new convertible bonds in the amount of RMB 270 million, at an initial conversion price of HK$2.92 per share, as well as notes in the amount of RMB 30 million. The proceeds from the subscription will be specifically used to fully and finally settle the principal amount of the 2023 convertible bonds due on February 20, 2026. Both the new convertible bonds and notes will benefit from the guarantees set out in the mortgage documents. Based on the initial conversion price of HK$2.92 per share (equivalent to RMB 2.62), upon full exercise of the conversion rights attached to the new convertible bonds, up to 103 million shares will be issued and distributed, representing approximately 16.66% of the existing issued shares and approximately 14.28% of the expanded issued shares after the distribution of conversion shares. Upon receipt of the new convertible bonds and notes, and after the company has paid the accrued unpaid interest under the 2023 convertible bonds, and subject to meeting the conditions set out, investors are required to sign a repayment agreement with the company as the beneficiary, to confirm the full and final repayment of the 2023 convertible bonds.