Addentax Group Corp. Converts $699.9K Loan to Common Stock

What Happened

• On July 27, 2026, Addentax Group Corp. (ATXG) filed an 8-K reporting a Loan Conversion Agreement with lender Seah Chia Yee. The company agreed to convert an outstanding loan principal of US$699,885 plus US$3,500 of accrued interest into 146,539 shares of common stock at a conversion price of US$4.80 per share. Once the Conversion Shares are issued, the loan and accrued interest will be fully satisfied and cancelled.

Key Details

• Loan principal: US$699,885; accrued interest: US$3,500 (total US$703,385).
• Conversion price: US$4.80 per share; Conversion Shares: 146,539 common shares.
• Counterparty: SEAH CHIA YEE (the Lender).
• Closing conditions: corporate approvals remain effective, Nasdaq Listing of Additional Shares notification filed as required, and no law or order blocking the transaction.

Why It Matters

• This transaction reduces the company’s debt by converting it into equity, removing the specified loan obligation if the shares are issued. For investors, the issuance of 146,539 new shares will dilute existing shareholders slightly while improving the company’s balance sheet by eliminating the recorded loan and interest payable. The conversion is subject to customary approvals and Nasdaq notification, so it is not final until those conditions are met.