Hivebox raises US$400 million in financing, CEC Capital Group serves as exclusive financial advisor


On January 7, 2021, SF Holdings (hereinafter referred to as the "Company") announced that it has raised funding through Hive Box Holdings Ltd (hereinafter referred to as "Hive Box Cayman"), a joint stock company held by its wholly-owned overseas subsidiary Liangyue Co., Ltd (hereinafter referred to as "Liangyue Ltd") in order to continue to expand and deepen its network, provide customers with better service, improve efficiency, and take advantage of market opportunities within express logistics.

Hive Box Cayman intends to enter into a Stock Purchase and Shareholders Agreement with Trustbridge Partners VII, LP; Asia Forge (Cayman) Ltd.; SCC Growth VI 2020F, LP; Redview Capital Investment VII Limited; All-Stars PEII SPV I Limited; and All-Stars PESP X Limited (hereinafter, collectively referred to as the "Investors") and existing shareholders, wherein the aforementioned Investors will be investing a total of US$400 million for 483,574,899 newly issued shares of Hive Box Cayman.

Hive Box Cayman also intends to reserve 69,613,360 shares of common stock for employee equity incentives (collectively, with the aforementioned issuance of new shares, referred to as the “Transaction”). The existing shareholders of Hive Box Cayman did not participate in the subscription of new shares. After the completion of this Transaction, the Company's shareholdings in Hive Box Cayman will be diluted from 10.06% to 8.73%.

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