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[6-K] AsiaStrategy Current Report (Foreign Issuer)

Filing Impact
(Low)
Filing Sentiment
(Neutral)
Form Type
6-K
Rhea-AI Filing Summary

AsiaStrategy closed the sale of its convertible notes and received gross proceeds of US$10 million. The notes carry a 3.0% annual interest rate, have a three‑year term, and are initially convertible at US$4.64 per share. The transaction closed on October 13, 2025 following agreements signed on August 15, 2025.

This financing provides cash to the company while giving investors the option to convert debt into ordinary shares at a set price. Conversion terms and the fixed rate outline clear economics for both funding cost and potential future share issuance.

AsiaStrategy ha chiuso la vendita delle sue obbligazioni convertibili e ha incassato proventi lordi di 10 milioni di dollari statunitensi. Le note hanno un tasso di interesse annuo del 3,0%, hanno una durata di tre anni e sono inizialmente convertibili a US$4,64 per azione. La transazione si è chiusa il 13 ottobre 2025 dopo gli accordi firmati il 15 agosto 2025.

Questo finanziamento fornisce liquidità all'azienda offrendo agli investitori l'opzione di convertire il debito in azioni ordinarie a un prezzo prestabilito. I termini di conversione e il tasso fisso delineano una chiara economicità sia per il costo di finanziamento sia per l'eventuale futura emissione di azioni.

AsiaStrategy cerró la venta de sus bonos convertibles y recibió un importe bruto de 10 millones de dólares. Los pagarés tienen una tasa de interés anual de 3,0%, tienen un plazo de tres años y son inicialmente convertibles a US$4,64 por acción. La operación se cerró el 13 de octubre de 2025 tras los acuerdos firmados el 15 de agosto de 2025.

Este financiamiento proporciona liquidez a la compañía, al tiempo que ofrece a los inversores la opción de convertir la deuda en acciones ordinarias a un precio fijado. Los términos de conversión y la tasa fija esbozan una economía clara tanto para el costo de financiamiento como para la posible futura emisión de acciones.

AsiaStrategy는 전환사채 매각을 마무리하고 미화 1000만 달러의 총수익을 확보했습니다. 채권은 연 이자율 3.0%, 기간은 3년이며, 초기 전환가액은 주당 4.64달러입니다. 이번 거래는 2025년 10월 13일에 종료되었고, 2025년 8월 15일 체결된 합의에 따라 이루어졌습니다.

이 자금 조달은 회사에 현금을 제공하고, 투자자들에게 일정 가격으로 부채를 보통주로 전환할 수 있는 옵션을 제공합니다. 전환 조건과 고정 금리는 자금 조달 비용과 미래 주식 발행 가능성의 명확한 경제성을 제시합니다.

AsiaStrategy a clôturé la vente de ses obligions convertibles et a reçu des produits bruts de 10 millions de dollars américains. Les obligations portent un taux d'intérêt annuel de 3,0%, une durée de trois ans et sont initialement convertibles à US$4,64 par action. La transaction a été clôturée le 13 octobre 2025 après des accords signés le 15 août 2025.

Ce financement apporte des liquidités à l'entreprise tout en donnant aux investisseurs l'option de convertir la dette en actions ordinaires à un prix fixé. Les conditions de conversion et le taux fixe décrivent une économie claire tant pour le coût de financement que pour une éventuelle émission future d'actions.

AsiaStrategy hat den Verkauf seiner wandlungsfähigen Anleihen abgeschlossen und Bruttoerlöse von 10 Mio. US-Dollar erhalten. Die Anleihen tragen einen jährlichen Zinssatz von 3,0%, eine Laufzeit von drei Jahren und sind anfänglich zu US$4,64 pro Aktie wandelbar. Die Transaktion wurde am 13. Oktober 2025 abgeschlossen, nach den am 15. August 2025 unterzeichneten Vereinbarungen.

Diese Finanzierung verschafft dem Unternehmen Liquidität, während Investoren die Möglichkeit haben, Schulden zu festgelegtem Preis in Stammaktien umzuwandeln. Wandelungsbedingungen und der feste Zinssatz skizzieren klare Wirtschaftlichkeit sowohl für die Finanzierungskosten als auch für eine potenzielle zukünftige Aktienausgabe.

AsiaStrategy أغلقت بيع سنداتها القابلة للتحويل وتلقت إيرادات إجمالية قدرها 10 ملايين دولار أميركي. تحمل السندات معدل فائدة سنوي 3.0%، ومدة ثلاث سنوات، ومبدئيًا قابلة للتحويل عند 4.64 دولار أميركي للسهم. أنهت الصفقة في 13 أكتوبر 2025 بعد توقيع الاتفاقيات في 15 أغسطس 2025.

يوفر هذا التمويل سيولة للشركة مع منح المستثمرين خيار تحويل الدين إلى أسهم عادية بسعر محدد. شروط التحويل والمعدل الثابت يحددان اقتصاديات واضحة لتكلفة التمويل ولإمكان إصدار الأسهم في المستقبل.

Positive
  • None.
Negative
  • None.

Insights

$10M convertible raise closes; low coupon and fixed conversion.

AsiaStrategy completed a convertible notes financing with US$10 million in proceeds, a 3.0% coupon, and a three-year maturity. The initial conversion price of US$4.64 per share sets a defined pathway for potential equity issuance if holders elect to convert.

The structure limits cash interest expense while preserving flexibility through equity-linked terms. Actual share issuance depends on investor conversion decisions and market conditions relative to the stated price.

Key reference points are the October 13, 2025 closing date, the three-year term, and the US$4.64 initial conversion price; subsequent disclosures may detail any conversions or adjustments.

AsiaStrategy ha chiuso la vendita delle sue obbligazioni convertibili e ha incassato proventi lordi di 10 milioni di dollari statunitensi. Le note hanno un tasso di interesse annuo del 3,0%, hanno una durata di tre anni e sono inizialmente convertibili a US$4,64 per azione. La transazione si è chiusa il 13 ottobre 2025 dopo gli accordi firmati il 15 agosto 2025.

Questo finanziamento fornisce liquidità all'azienda offrendo agli investitori l'opzione di convertire il debito in azioni ordinarie a un prezzo prestabilito. I termini di conversione e il tasso fisso delineano una chiara economicità sia per il costo di finanziamento sia per l'eventuale futura emissione di azioni.

AsiaStrategy cerró la venta de sus bonos convertibles y recibió un importe bruto de 10 millones de dólares. Los pagarés tienen una tasa de interés anual de 3,0%, tienen un plazo de tres años y son inicialmente convertibles a US$4,64 por acción. La operación se cerró el 13 de octubre de 2025 tras los acuerdos firmados el 15 de agosto de 2025.

Este financiamiento proporciona liquidez a la compañía, al tiempo que ofrece a los inversores la opción de convertir la deuda en acciones ordinarias a un precio fijado. Los términos de conversión y la tasa fija esbozan una economía clara tanto para el costo de financiamiento como para la posible futura emisión de acciones.

AsiaStrategy는 전환사채 매각을 마무리하고 미화 1000만 달러의 총수익을 확보했습니다. 채권은 연 이자율 3.0%, 기간은 3년이며, 초기 전환가액은 주당 4.64달러입니다. 이번 거래는 2025년 10월 13일에 종료되었고, 2025년 8월 15일 체결된 합의에 따라 이루어졌습니다.

이 자금 조달은 회사에 현금을 제공하고, 투자자들에게 일정 가격으로 부채를 보통주로 전환할 수 있는 옵션을 제공합니다. 전환 조건과 고정 금리는 자금 조달 비용과 미래 주식 발행 가능성의 명확한 경제성을 제시합니다.

AsiaStrategy a clôturé la vente de ses obligions convertibles et a reçu des produits bruts de 10 millions de dollars américains. Les obligations portent un taux d'intérêt annuel de 3,0%, une durée de trois ans et sont initialement convertibles à US$4,64 par action. La transaction a été clôturée le 13 octobre 2025 après des accords signés le 15 août 2025.

Ce financement apporte des liquidités à l'entreprise tout en donnant aux investisseurs l'option de convertir la dette en actions ordinaires à un prix fixé. Les conditions de conversion et le taux fixe décrivent une économie claire tant pour le coût de financement que pour une éventuelle émission future d'actions.

AsiaStrategy hat den Verkauf seiner wandlungsfähigen Anleihen abgeschlossen und Bruttoerlöse von 10 Mio. US-Dollar erhalten. Die Anleihen tragen einen jährlichen Zinssatz von 3,0%, eine Laufzeit von drei Jahren und sind anfänglich zu US$4,64 pro Aktie wandelbar. Die Transaktion wurde am 13. Oktober 2025 abgeschlossen, nach den am 15. August 2025 unterzeichneten Vereinbarungen.

Diese Finanzierung verschafft dem Unternehmen Liquidität, während Investoren die Möglichkeit haben, Schulden zu festgelegtem Preis in Stammaktien umzuwandeln. Wandelungsbedingungen und der feste Zinssatz skizzieren klare Wirtschaftlichkeit sowohl für die Finanzierungskosten als auch für eine potenzielle zukünftige Aktienausgabe.

AsiaStrategy أغلقت بيع سنداتها القابلة للتحويل وتلقت إيرادات إجمالية قدرها 10 ملايين دولار أميركي. تحمل السندات معدل فائدة سنوي 3.0%، ومدة ثلاث سنوات، ومبدئيًا قابلة للتحويل عند 4.64 دولار أميركي للسهم. أنهت الصفقة في 13 أكتوبر 2025 بعد توقيع الاتفاقيات في 15 أغسطس 2025.

يوفر هذا التمويل سيولة للشركة مع منح المستثمرين خيار تحويل الدين إلى أسهم عادية بسعر محدد. شروط التحويل والمعدل الثابت يحددان اقتصاديات واضحة لتكلفة التمويل ولإمكان إصدار الأسهم في المستقبل.

AsiaStrategy 已完成可转换票据的出售并获得1000万美元的毛收入。票据的年利率为3.0%、期限为三年,初始可转换价格为每股4.64美元。本次交易在2025年10月13日完成,之前于2025年8月15日签署了协议。

此次融资为公司提供现金,同时给予投资者以设定价格将债务转换为普通股的选项。转换条款和固定利率为融资成本和未来潜在的增发股份勾画了清晰的经济性。

 

 

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
UNDER THE SECURITIES EXCHANGE ACT OF 1934

 

For the month of October 2025

 

Commission File Number: 001-42572

 

AsiaStrategy

(Translation of registrant’s name into English)

 

33/F Sunshine Plaza
353 Lockhart Road, Wan Chai, Hong Kong
(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

 

 

 

 

 

 

Closing of Sale of Convertible Notes

 

On August 15, 2025, AsiaStrategy (formerly known as Top Win International Limited) (Nasdaq: SORA), a Cayman Islands exempted company (the “Company”), entered into certain securities purchase agreements (the “Securities Purchase Agreements”) with certain investors to issue convertible notes with an aggregate principal amount of US$10 million, at a purchase price of 100% of such principal, a term of three years, and an interest rate of 3.0% per annum (the “Notes”). Such Notes shall be convertible into the Company’s ordinary shares at an initial conversion price of US$4.64 per share. The form of the Securities Purchase Agreements, which includes the form of the Notes, was appended to the Company’s current report on Form 6-K dated August 15, 2025 as exhibit 99.1. The closing of the sale and purchase of such Notes was completed on October 13, 2025. Pursuant to such closing, the Company received gross proceeds of US$10 million.

 

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: October 14, 2025 AsiaStrategy
     
  By: /s/ Jason Kin Hoi Fang
  Name:  Jason Kin Hoi Fang
  Title: Co-Chief Executive Officer and Director

 

 

2

 

 

FAQ

What financing did SORA complete?

The company closed a sale of convertible notes with US$10 million aggregate principal.

What are the key terms of AsiaStrategy’s convertible notes (SORA)?

They bear 3.0% annual interest, have a three-year term, and an initial conversion price of US$4.64 per share.

When did AsiaStrategy receive proceeds from the notes?

The sale closed on October 13, 2025, and the company received gross proceeds of US$10 million.

What is the ticker and prior name of AsiaStrategy?

Ticker: SORA. The company was formerly known as Top Win International Limited.

Are the notes immediately convertible and at what price?

They are convertible into ordinary shares at an initial price of US$4.64 per share.

What was the purchase price of the notes?

The notes were purchased at 100% of principal for an aggregate of US$10 million.
Top Win International Limited

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