0001493152-26-019588
SEC filingVS Media Holdings Limited completed a debt-to-equity conversion of its US$3.8 million convertible note in S T Meng, resulting in ownership of 41.52% of S T Meng's voting rights.
VS Media Holdings Limited executed a strategic debt-to-equity conversion on April 27, 2026, under a new Debt Conversion and Share Subscription Agreement with S T Meng PTE. LTD. This replaced the mechanics of the prior Convertible Note Purchase Agreement from September 11, 2025, which involved a US$3,800,000 principal amount note issued on August 29, 2025, with a one-year term and original conversion at 70% of fair market value. The new agreement sets a fixed conversion price of US$74.70 per S T Meng ordinary share, fully extinguishing the principal obligation and eliminating any cash repayment requirement. Accrued interest offers flexible settlement options, enhancing transaction efficiency. Post-conversion, the Company and subsidiaries control 41.52% of S T Meng's voting rights, marking a significant equity stake that could influence strategic decisions and provide long-term value to investors through ownership in the investee.