Developed a plan to buy Bridgelux 7% stake for $25 million

A few days ago, Great Wall Development (000021.SZ) announced that it had signed the "E-1 Series Preference Shares Subscription Agreement" and the "Warrants Agreement" with the US LED leader Bridgelux on February 9.

According to the announcement, it has developed a strategic investment of 25 million US dollars, and subscribed for 18.05 million shares of the E-1 series of preferred shares issued by BridgeLux at a price of 1.3847 US dollars per share, holding 7% of its shares.

At the same time, under certain conditions, the development of the crystal can exercise the warrants, that is, the right to convert into a common stock of no more than 13,301,700 shares at a price of 0.25 US dollars per share, the shares do not exceed the total share capital of BridgeLux (including the expected debt-to-equity shares) ) 5%.

At present, Great Wall Development, Epistar, Yiguanjing and Country Lighting hold 44%, 40%, 9% and 7% of the shares respectively, while Great Wall Development's wholly-owned subsidiary Development Technology (Hong Kong) Co., Ltd. indirectly holds through Country Lighting. Developed a 3.88% stake in Jing.

Through the strategic investment of BridgeLux, Great Wall Development quickly entered the field of LED packaging and accelerated the strategic layout of the Group's industrial chain in the field of LED lighting.

It is understood that Bridgelux was incorporated in Delaware, USA in 2002. The company is principally engaged in the R&D, manufacturing and sales of LED chips, packages and optical modules.

At present, the company has approved a total of 394 million shares, of which 226 million shares of common stock, par value of 0.001 US dollars per share; preferred shares of 168 million shares, par value of 0.001 US dollars per share.

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