SHANGHAI, Dec. 20,
2024 /PRNewswire/ -- Eshallgo Inc ("Eshallgo" or the
"Company") (NasdaqCM: EHGO), one of the leading Chinese office
integrator, agent, and service provider, and the investment fund CS
Asia Opportunities Master Fund (hereinafter referred to as "CS
Fund") jointly announced a landmark equity investment. According to
the securities purchase agreement between the two parties, CS Fund
will become one of the shareholders of EHGO by injecting up to
$20 million in equity investment in
tranches, demonstrating CS Fund's confidence and high recognition
in EHGO's future development prospects.
In this cooperation, CS Fund will purchase a total of up to
4,166,660 shares of EHGO at a price of $4.8 per share in tranches. This strategic move
not only provides EHGO with strong financial support but also build
momentum in its further business expansion.
It is noteworthy that this equity cooperation will provide a
solid foundation for EHGO's strong entry into Tencent's business
ecosystem. As an internationally renowned internet company,
Tencent possesses abundant resources
and advanced technologies, while EHGO has extensive experience and
capabilities in the field of office integration services. EHGO will
leverage Tencent's resources to explore new models and
opportunities in the office and cloud gaming sectors, and jointly
opening up broader market spaces.
Frank Dominick, CEO of CS Fund,
stated that this investment decision was made after thorough
analysis and careful consideration. They have a comprehensive and
profound understanding of market trends, economic environment, and
EHGO's corporate strategy. He firmly believes that with the strong
support of Tencent's resources, EHGO will be able to grow its
business.
This equity cooperation is not only an important milestone in
EHGO's development journey but also a solid step towards higher
levels and broader areas of development. In the future, EHGO will
continue to adhere to the development philosophy of innovation,
pragmatism, and efficiency, constantly enhancing its strength and
competitiveness. At the same time, relying on Tencent's abundant
resources and advanced technologies, EHGO will actively explore new
business areas and growth points, and jointly drawing a new
blueprint for Tencent's business ecosystem.
About Eshallgo Inc
Eshallgo Inc is one of the leading office solution providers
in China with a global vision. We specialize in two
distinct market sectors: office supply sale and leasing, and
after-sale maintenance & repair. We have created an extensive
geographical presence, which expands throughout 20 provinces
in China. Our mission is to become an office integrator and
service provider, offer competitive overall office solutions and
services, expand our service market beyond office equipment, and
continue to create maximum value for customers. For more
information, visit the Company's website
at http://ir.eshallgo.com/.
Forward-Looking Statements
All statements other than statements of historical fact in
this announcement are forward-looking statements. These
forward-looking statements involve known and unknown risks and
uncertainties and are based on current expectations and projections
about future events and financial trends that the Company believes
may affect its financial condition, results of operations, business
strategy and financial needs. Investors can identify these
forward-looking statements by words or phrases such as "may,"
"will," "expect," "anticipate," "aim," "estimate," "intend,"
"plan," "believe," "potential," "continue," "is/are likely to" or
other similar expressions. The Company undertakes no obligation to
update forward-looking statements to reflect subsequent occurring
events or circumstances, or changes in its expectations, except as
may be required by law. Although the Company believes that the
expectations expressed in these forward-looking statements are
reasonable, it cannot assure you that such expectations will turn
out to be correct, and the Company cautions investors that actual
results may differ materially from the anticipated results and
encourages investors to review other factors that may affect its
future results in the Company's registration statement and in its
other filings with the SEC.
For more information, please contact:
Investor Relations:
Sherry
Zheng
Weitian Group LLC
Phone: 718-213-7386
Email: shunyu.zheng@weitian-ir.com
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SOURCE Eshallgo Inc
