Bloomberry Increases Equity Through Fundraising

The Board of Directors of Bloomberry Resorts Corporation has passed a resolution authorizing equity fundraising through a placing and subscription transaction, contingent upon prevailing market conditions, as disclosed to the Philippine Stock Exchange.

The first component of this transaction, known as the "Offer," involves the sale of shares with a par value of Php1.00 per share of BLOOM (the "Shares") by Quasar Holdings, Inc., one of BLOOM's major shareholders. I Photo: Solaire Resort

The first component of this transaction, known as the "Offer," involves the sale of shares with a par value of Php1.00 per share of BLOOM (the "Shares") by Quasar Holdings, Inc., one of BLOOM's major shareholders.

Quasar Holdings intends to offer up to 559,000,000 BLOOM shares at an Offer Price of Php10.00 per share.

These shares will be offered to investors outside the United States in accordance with Regulation S under the United States Securities Act of 1933, as amended, and within the Philippines to qualified buyers in transactions exempt from registration under the Securities Regulation Code, as amended.

The second part of this transaction, which will take place upon the completion of the Offer, involves the subscription by Quasar and the issuance of new shares by BLOOM to Quasar.

These new shares will be drawn from BLOOM's authorized but unissued shares, with the same number and price as the shares sold in the Offer. The listing of these new shares will be pursued as soon as practicable.

This equity fundraising approach via a placing and subscription transaction enables BLOOM to efficiently and expeditiously raise equity funds while minimizing costs.

The Transaction also aims to enhance and diversify BLOOM's capital base and facilitate broader ownership of the Shares among institutional investors.

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