Chacha Food suspends convertible bond conversions due to triggered put option

Chacha Food Co., Ltd. announced the temporary suspension of share conversion for its "Qiaqia convertible bonds" from December 2 to December 8, 2025. This suspension is due to the activation of a put option, allowing bondholders to sell their bonds back to the company. The convertible bonds will resume normal trading on December 9, 2025.

The put option was triggered because the company's stock price traded below 70% of the current conversion price (55.93 per share) for thirty consecutive trading days between October 20 and November 28, 2025. Additionally, the bonds are in their final two interest-accrual years. The put option price is 100.236 per bond, including accrued interest.

Investors holding "Qiaqia convertible bonds" can exercise their put option during the declaration period from December 2 to December 8, 2025. The company will repurchase the bonds at the put option price, with funds reaching investors by December 15, 2025. It is important to note that the current market price of "Qiaqia convertible bonds" is above the put option price, so exercising the put option may result in a loss for investors.