Black Sesame Intelligence Terminates Share Placement Agreement

Black Sesame Intelligence announced the termination of its share placement agreement before the market opened yesterday. According to Ming Pao, the company had previously disclosed on Tuesday, October 10, that it entered into an agreement after the market closed on Monday, October 9, to place new shares with hedge fund company Infinite Capital Management. The placement agents, China International Capital Corporation and Huatai International, informed Black Sesame Intelligence of their intention to terminate the placement agreement. Consequently, the company and the placement agents officially ended the agreement on Wednesday, October 18. The subscription agreement announced on the day of the placement remains valid and binding, with completion contingent upon the fulfillment of conditions outlined in the subscription agreement.