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High-Trend International Group (NASDAQ: HTCO) exits Streeterville financing, plans 630,000-share cancellation

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
6-K

Rhea-AI Filing Summary

High-Trend International Group has exited a prior financing arrangement and adjusted its capital structure. The company paid $4,191,247.42 to Streeterville Capital to fully satisfy all obligations, including a $3,230,000 note, and terminated the related securities purchase agreement. Streeterville will return 630,000 Class A ordinary shares, which the company plans to cancel, reducing shares that could have become tradable after May 1, 2026. To support liquidity, the company also sold an unsecured promissory note for $2.6 million to controller and former chairman Jinyu Chang, bearing 5% annual interest, payable with principal one year after issuance.

Positive

  • None.

Negative

  • None.

Insights

High-Trend replaces a prior financing with insider-backed debt and fewer potential tradable shares.

High-Trend International Group repaid $4,191,247.42 to clear all obligations to Streeterville, including a $3,230,000 note, and terminated the related purchase agreement. In return, Streeterville will send back 630,000 Class A shares that were nearing resale eligibility.

The company intends to cancel these shares, which would lower the number of shares that could enter the market after May 1, 2026. At the same time, it obtained funding via an unsecured note of $2.6 million from controller and former chairman Jinyu Chang at a 5% annual rate, due in one year.

This shifts the financing mix from a third-party structure with potential resale supply toward a related-party loan with clear terms. Actual effects will depend on future operational performance and how the company manages this new debt as it comes due.

Repayment to Streeterville $4,191,247.42 Full payment of all obligations under Streeterville financing
Streeterville note principal $3,230,000 Note issued under Securities Purchase Agreement dated October 29, 2025
Shares to be returned 630,000 Class A shares Pre-Delivery Shares to be returned and planned for cancellation
Related-party note amount $2.6 million Unsecured promissory note sold to controller Jinyu Chang
Note interest rate 5% per annum Interest on $2.6 million unsecured promissory note
Note maturity 1 year after issuance Principal and interest due together on Chang promissory note
Resale eligibility date May 1, 2026 Original date 630,000 shares were scheduled to become eligible for resale
unsecured promissory note financial
"The Company also sold an unsecured promissory note to Mr. Jinyu Chang"
An unsecured promissory note is a written IOU in which a borrower promises to repay a loan plus any interest but does not pledge any asset as collateral. Investors care because it relies solely on the borrower’s ability to pay—like lending money to someone without holding their watch as security—so it usually carries higher interest and higher risk and ranks below secured debt if the borrower defaults, affecting expected recovery and company credit profile.
financing overhang financial
"thereby eliminating the associated financing overhang"
Pre-Delivery Shares financial
"630,000 Class A ordinary shares of the Company (the “Pre-Delivery Shares”)"
Securities Purchase Agreement regulatory
"pursuant to the Securities Purchase Agreement dated October 29, 2025"
A securities purchase agreement is a written contract between a buyer and a seller outlining the terms for buying or selling financial assets such as stocks or bonds. It specifies details like the price, quantity, and conditions of the transaction, similar to a shopping list with agreed-upon terms. For investors, it provides clarity and legal protection when transferring ownership of these financial instruments.
forward-looking statements regulatory
"This press release contains forward-looking statements within the meaning of applicable securities laws"
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 6-K

 

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 OF THE

SECURITIES EXCHANGE ACT OF 1934

 

For the month of May 2026

 

Commission File Number 001-41573

 

HIGH-TREND INTERNATIONAL GROUP

(Translation of registrant’s name into English)

 

60 Paya Lebar Road

#06-17 Paya Lebar Square

Singapore 409051

+ 1 (929) 666 0683 

(Address of principal executive office)

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

 

Form 20-F ☒       Form 40-F  

 

 

 

 

 

 

On April 27, 2026, High-Trend International Group (the “Company” or the “Registrant”) sold an unsecured promissory note (the “Note”) pursuant to a note purchase agreement to Mr. Jinyu Chang, controller of the Company and its former Chairman of the board of directors, for $2.6 million. The Note carries an annual interest rate of 5%, which is payable together with the principal one year after the date of issuance.

 

April 28, 2026, the Company entered into an agreement (the “Termination Agreement”) with Streeterville Capital, LLC ( “Streeterville”) whereby we paid Streeterville $4,191,247.42 as payment in full of all obligations owed by Company to Streeterville including a $3,230,000 note issued to Streeterville under pursuant to the Securities Purchase Agreement dated October 29, 2025 by and between Streeterville and the Company (the “Securities Purchase Agreement”). Pursuant to the terms of the Termination Agreement, the Securities Purchase Agreement was deemed terminated and 630,000 Class A ordinary shares of the Company (the “Pre-Delivery Shares”) will be returned to the Company.

 

On May 4, 2026, the Company issued a press release announcing the entry of the Termination Agreement and the cancellation of the Pre-Delivery Shares.

 

A copy of the press release is attached hereto as Exhibit 99.1 and incorporated herein by reference.

 

This Report on Form 6-K and the information contained herein shall be deemed to be furnished and not filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and shall not be incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

 

Forward-Looking Statements.

 

This Report on Form 6-K contains forward-looking statements. These statements involve risks and uncertainties that could cause actual results to differ materially, including risks relating to the satisfaction of closing conditions, the receipt of regulatory approvals (including approvals by Nasdaq), and the timing and completion of the transaction.

 

Exhibit Index

 

Exhibit No.   Description
99.1   Press Release dated May 4, 2026

 

1

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

 

Date: May 4, 2026 HIGH-TREND INTERNATIONAL GROUP
     
  By: /s/ Shixuan He
    Shixuan He
    Chief Executive Officer
    (Principal Executive Officer)

 

2

 

Exhibit 99.1 

 

High-Trend International Group Eliminates Financing Overhang and Plans Cancellation of 630,000 Class A Ordinary Shares (Originally Scheduled to Become Eligible for Resale on May 1, 2026)

 

New York, May 4, 2026, High-Trend International Group (NASDAQ: HTCO, the “Company”) today announced that it has fully repaid all outstanding obligations under its financing arrangement with Streeterville Capital, LLC (“Streeterville”) and has terminated the related transaction documents, thereby eliminating the associated financing overhang.

 

In connection with the repayment, Streeterville has agreed to return previously issued 630,000 Class A ordinary shares to the Company. These shares were originally scheduled to become eligible for resale on May 1, 2026. The acquisition of the shares by the Company will reduce the number of shares that could otherwise become available for trading in the future.

 

The Company also sold an unsecured promissory note to Mr. Jinyu Chang, controller of the Company and it former Chairman of the board of directors, for $2.6 million. The note carries an annual interest rate of 5%, which is payable together with the principal, one year after issuance.

 

HTCO Chairman Mr. Christopher Nixon Cox states “the full repayment and termination of this financing arrangement represent a meaningful step in strengthening our balance sheet and removing a potential market overhang.”

 

About High-Trend International Group

 

High-Trend International Group is a global ocean transportation company with core businesses in international shipping.

 

Forward-Looking Statements

 

This press release contains forward-looking statements within the meaning of applicable securities laws, including Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, made under the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements can be identified by words such as “believe,” “expect,” “anticipate,” “future,” “will,” “intend,” “plan,” “estimate” or similar expressions. Actual results may differ materially from those indicated by these forward-looking statements due to various risks and uncertainties, including but not limited to those detailed in the Company’s filings with the U.S. Securities and Exchange Commission. All information in this press release is as of the date of this release, and the Company undertakes no obligation to update any forward-looking statement, except as required by applicable law.

 

FAQ

What financing arrangement did High-Trend International Group (HTCO) terminate?

High-Trend repaid all obligations under its financing arrangement with Streeterville Capital, including a $3,230,000 note. It paid $4,191,247.42 in total and terminated the related Securities Purchase Agreement, ending this source of financing and its associated terms.

How many High-Trend International Group (HTCO) shares will be returned and cancelled?

Streeterville agreed to return 630,000 Class A ordinary shares to High-Trend. These shares, originally scheduled to become eligible for resale on May 1, 2026, are planned to be cancelled, reducing shares that might otherwise have entered public trading.

What new debt did High-Trend International Group (HTCO) issue to its controller?

High-Trend sold an unsecured promissory note to controller and former chairman Jinyu Chang for $2.6 million. The note carries a 5% annual interest rate and requires payment of both principal and interest in a single lump sum one year after issuance.

How does the Streeterville repayment affect High-Trend International Group (HTCO) share supply?

By repaying Streeterville and arranging return of 630,000 Class A shares, High-Trend plans to cancel those shares. This will reduce the number of shares that could otherwise have become available for trading after May 1, 2026, limiting potential future supply.

What did High-Trend International Group (HTCO) highlight in its press release comments?

HTCO’s chairman Christopher Nixon Cox stated that fully repaying and terminating the Streeterville financing represents a meaningful step in strengthening the company’s balance sheet and removing a potential market overhang, emphasizing the strategic nature of this transaction.

Filing Exhibits & Attachments

1 document