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On January 19, Maxic Technology issued a notice declaring that the company, along with other investors, is set to execute a capital injection into Fusionsight PTE. LTD. To be precise, Maxic Technology is poised to acquire 9,411,765 preferred shares of Fusionsight at a cost of US$3.2 million. Post-capital increase, the company will secure an 18.82% equity stake in Fusionsight. Given that WI Harper Fund IX is a legally related entity to Maxic Technology, this particular transaction falls under the category of a related-party deal. This related-party transaction has successfully secured approval from the seventh meeting of the second session of Maxic Technology's board of directors and, as per regulations, does not necessitate submission to the shareholders' meeting for further discussion.
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