High-Trend International Group repays obligations with Streeterville Capital

High-Trend International Group (HTCO)announced that it has fully repaid all outstanding obligations under its financing arrangement with Streeterville Capital and has terminated the related transaction documents, thereby eliminating the associated financing overhang. In connection with the repayment, Streeterville has agreed to return previously issued 630,000 Class A ordinary shares to the company. These shares were originally scheduled to become eligible for resale on May 1. The acquisition of the shares by the company will reduce the number of shares that could otherwise become available for trading in the future. The company also sold an unsecured promissory note to Jinyu Chang, controller of the company and it former Chairman of the board of directors, for $2.6M. The note carries an annual interest rate of 5%, which is payable together with the principal, one year after issuance.