10:50 AM EDT, 03/11/2025 (MT Newswires) -- High-Trend International Group ( HTCO ) said Tuesday its co-founder Dong Zhang has signed a securities purchase deal to buy roughly 1.7 million of the company's class A ordinary shares for about $4.5 million, or $2.62 apiece.

The proceeds will be used for general working capital purposes, the shipping company said, adding that the acquired shares will be subject to a 36-month lock-up period.

Zhang signed the agreement through his company, Speed Wealthy, according to High-Trend ( HTCO ).

High-Trend's ( HTCO ) stock was down 7% in recent Tuesday trading.

Price: 1.93, Change: -0.15, Percent Change: -7.00