Highway Holdings Announces $7.0 Million Strategic Investment and Leadership Change

Highway Holdings Limited closed a $7.0 million preferred-stock investment from David Lazar, who has become CEO. Subject to shareholder approval of conversion, the investment could give Lazar approximately 95% ownership on a fully diluted basis. The company plans to spin off its legacy manufacturing business within 365 days and distribute a $2.0 million dividend to eligible shareholders, marking a major change in control and corporate structure.