XChange TECINC (XHG) has released an update.
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XChange TEC.INC, a company incorporated in the Cayman Islands and in good standing, has announced the registration of an eye-popping 150 quadrillion Class A ordinary shares, which may be represented by American depositary shares. This move, detailed in a prospectus supplement, marks a significant step in the company’s capital raise efforts under the U.S. Securities Act of 1933. Legal counsel has reviewed necessary documents and believes that these shares, once issued and paid for, will be validly issued, fully paid, and non-assessable.
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