Ming Shing Group Holdings Limited will acquire 4,250 Bitcoin for about $483 million, adding to corporate Bitcoin treasuries. The NASDAQ-listed company agreed to buy at an average price of $113,638 per Bitcoin, with the transaction expected to close by December 31, 2025. Financing uses two convertible promissory notes of $241.48 million each and share warrants instead of cash; the notes carry 3% annual interest and a 120-month maturity. Convertible notes convert at $1.20 per share, while the warrants have a $1.25 exercise price and a 12-year exercise period. CEO Wenjin Li cited market liquidity and potential appreciation, and the stock rose up to 10% on August 21.
Hong Kong-based construction company Ming Shing Group Holdings Limited has announced plans to acquire 4,250 Bitcoin for approximately $483 million, marking another significant entry into the growing roster of corporate Bitcoin treasury holders. Bitcoin price remained steady at $113,000 as the NASDAQ-listed company (MSW) revealed it has entered into a Bitcoin purchase agreement with Winning Mission Group Limited at an average price of $113,638 per Bitcoin.
"We believe the Bitcoin market is highly liquid and the investment can capture the potential appreciation of Bitcoin and increase the Company's assets," said Wenjin Li, Chief Executive Officer of Ming Shing. "We are devoted to creating additional value for our shareholders and actively exploring options for the Company to grow further." The construction firm's ambitious Bitcoin acquisition reflects its aggressive approach to Bitcoin treasury management. The announcement sent the company's stock surging up to 10% on August 21.
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