NEW YORK, July 23, 2026 /PRNewswire/ -- High-Trend International Group (NASDAQ: HTCO) ("HTCO" or the "Company"), a global maritime logistics company, today announced its strengthened financial position as of April 30, 2026, highlighted by a cash balance of $17.3 million, the full retirement of its promissory note obligation, and the completion of a $15 million equity financing in May 2026.
Cash and Balance Sheet Strength
- Cash and Cash Equivalents: $17.3 million as of April 30, 2026, representing a 71.1% increase from $10.1 million as of October 31, 2025.
- Total Current Assets: $32.4 million as of April 30, 2026, compared to $30.3 million as of October 31, 2025.
- Total Assets: $33.8 million as of April 30, 2026, compared to $32.4 million as of October 31, 2025.
- Net Cash Provided by Operating Activities: $5.9 million for the six months ended April 30, 2026.
- Net Increase in Cash: $7.2 million for the six months ended April 30, 2026.
Promissory Note Retirement
On April 28, 2026, the Company entered into a Payoff Acknowledgment and Termination Agreement with Streeterville Capital, LLC, pursuant to which the Company paid a total of $4.2 million in full satisfaction of all obligations under the promissory note. The Securities Purchase Agreement was deemed terminated, effective as of April 28, 2026, with no Pre-Paid Purchases remaining outstanding. As of April 30, 2026, the balance of the promissory note was nil.
The retirement of the promissory note eliminates a significant financial liability, simplifies the Company's capital structure, and removes a material overhang from the balance sheet. With an improved liquidity profile and substantial cash reserves, HTCO is positioned to pursue growth opportunities with discipline and strategic clarity.
Post-Period $15 Million Equity Financing
On May 14, 2026, the Company closed a securities purchase agreement with certain institutional investors for the issuance and sale of 2,307,700 Class A Ordinary Shares at an offering price of $6.50 per share. The Company received gross proceeds of approximately $15 million before deducting placement agent fees and other estimated offering expenses.
This financing significantly strengthens HTCO's capital base and provides the financial resources necessary to fund its strategic transformation initiatives and potential value-accretive acquisitions.
Foundation for Strategic Transformation
With improved liquidity profile following the promissory note payoff and May 2026 equity financing, and a cash position exceeding $17 million - supplemented by the additional $15 million equity financing - HTCO has established the financial foundation necessary to execute its strategic vision. The Company intends to deploy this capital toward digital infrastructure, technology platforms, and strategic partnerships that will accelerate its evolution from traditional shipping operator to integrated digital infrastructure platform.
Management Commentary
"Financial strength creates strategic flexibility. With a robust cash position exceeding $17 million, the successful retirement of our promissory note, and the additional $15 million equity financing completed in May, HTCO is well-capitalized to pursue its next phase of growth. We have eliminated our debt burden, simplified our capital structure, and positioned the Company to invest in the strategic initiatives that will drive long-term value creation," stated Mr. Christopher Nixon Cox, HTCO Chairman of the Board.
"Our shareholders have entrusted us with capital, and we take that responsibility seriously. The financial foundation we have built - strong cash generation and a strengthened balance sheet - gives us the flexibility to pursue both organic development and disciplined M&A. We are not just repairing the balance sheet; we are laying the groundwork for a fundamental transformation of our business model," stated Mr. Christopher Nixon Cox, HTCO Chairman of the Board.
About High-Trend International Group
High-Trend International Group is a global ocean transportation company with core businesses in international shipping.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of applicable securities laws, including Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, made under the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements can be identified by words such as "believe," "expect," "anticipate," "future," "will," "intend," "plan," "estimate" or similar expressions. Actual results may differ materially from those indicated by these forward-looking statements due to various risks and uncertainties, including but not limited to those detailed in the Company's filings with the U.S. Securities and Exchange Commission. All information in this press release is as of the date of this release, and the Company undertakes no obligation to update any forward-looking statement, except as required by applicable law.
SOURCE High-Trend International Group
