Super X AI Technology Ltd (JUNE) News & EventsJUNESuper X AI Technology Ltd

Junee Limited completes corporate name change to SuperX AI

Junee Limited has completed its previously announced corporate name change and re-branding to SuperX AI Technology Limited. In connection with the name change, the Company's ordinary shares will begin trading today on the Nasdaq Capital Market under the new ticker symbol "SUPX." The rebranding reflects the Company's strategic transformation towards becoming a one-stop AI infrastructure solutions provider. The new corporate website is now live at www.superx.sg. The corporate rebranding reflects the Company's strategic transformation into a one-stop provider of artificial intelligence infrastructure solutions. The Company plans to develop and deliver integrated systems encompassing compute, model hosting, data pipelines, and orchestration tools to support enterprise AI deployment globally.

Junee Limited to rebrand as SuperX AI Technology

Junee Limited has approved proposals to change the company's name to SuperX AI Technology Limited and shift its principal business focus towards becoming a one-stop AI infrastructure solutions provider. The company expects the name change to take effect on June 2. The shift in the company's principal business will take effect on June 2. In conjunction with the change of the company's name, the Company expects to begin trading under the new ticker symbol "SUPX" on June 2. The new corporate website is now live at www.superx.sg. The name change and ticker symbol update are subject to regulatory approval and will take effect following the completion of the necessary filings.

Junee Limited to acquire 51% stake in MindEnergy AI Technology

Junee announced that it has reached an agreement to acquire a 51% stake in MindEnergy AI Technology. This investment will further enhance the Company's AI computing capabilities, drive innovation in AI training and inference servers, and mark the Company's strategic transformative shift into the AI sector. Pursuant to the Share Purchase Agreement, the initial consideration shall be $250,000 and the total purchase price could be up to $9.8M. The consideration will be paid in newly issued ordinary shares of the Company at an issuance price of $4.00 per ordinary share. Pursuant to the Share Purchase Agreement, the Company shall initially issue 62,500 ordinary shares to the Seller, who shall complete all necessary regulatory filings to complete the transfer of the Shares upon the Initial Issuance. The consummation of the transaction is subject to the other closing conditions set forth in the Share Purchase Agreement. As incentive for the Seller to collect and recover accounts receivable owed to the Target Company within 365 days from the date of this agreement, for each amount of AR that the Seller collects for the Company post-closing, the Company shall issue to the Seller additional shares, at $4.00 per ordinary share, for which the value shall be equivalent to 51% of the collected amount, calculated based on the prevailing exchange rate at the bank on the date of collection. The maximum number of shares to be issued as consideration is up to 2,450,000.