Maha Capital ("Maha" or the "Company") hereby provides the following update regarding its planned acquisition of KEO World Inc. ("KEO World") and the related bridge loan facility.
Status of the KEO World Transaction
Negotiations regarding the closing of Maha's acquisition of KEO World are at an advanced stage. Maha expects the transaction to close imminently.
Bridge Loan Default
The bridge loan of USD 27.5 million, which Maha provided to KEO Mexico in December 2025 in connection with the anticipated closing of the acquisition (the "Bridge Loan"), is as of April 1, 2026 in default. The Bridge Loan was structured in the context of, and is closely linked to, the anticipated closing of Maha's acquisition of KEO World. Upon closing, the outstanding amount under the Bridge Loan is expected to be converted into equity, in line with the overall transaction structure and subject to customary closing conditions.
Maha has determined not to take any enforcement action in respect of the default at this time and will instead focus its efforts on completing the transaction.