MGN News & Events

Megan Holding issued the following statement regarding recent volatility in its share price. The company confirms that its directors, executive officers, shareholders holding 5% or more of its outstanding Class A Ordinary Shares or Class B Ordinary Shares, and certain other shareholders remain subject to lock-up agreements. These agreements restrict the sale of their shares for a period of 180 days following the closing of the company's recent follow-on offering, which occurred on February 27, 2026. Accordingly, these parties are not permitted to sell their shares until the expiration of the applicable lock-up period. The company said, "The Company further notes that recent updates by certain trading platforms to the Company's reported public float reflect information previously disclosed in connection with the Company's follow-on offering. These updates do not represent any new issuance or unlocking of shares, or any change in the Company's capital structure beyond what has already been publicly disclosed. As of the date of this release, there has been no material increase in freely tradable shares beyond previously disclosed levels. The Company believes that recent share price volatility may be attributable, in part, to market dynamics, including data updates across trading platforms and limited liquidity during after-hours trading. There has been no fundamental change in the Company's business, operations, or financial condition. Megan Holdings Limited remains focused on executing its strategic initiatives and delivering long-term value to its shareholders."

Megan Holdings announced the pricing of its follow-on offering of 20,750,000 Class A ordinary shares, par value $0.0001 per share, at an offering price of $0.40 per share. The Offering is being conducted on a reasonable best-efforts basis. D. Boral Capital is acting as the exclusive placement agent for the Offering. The Offering is expected to close on or about February 27, subject to the satisfaction of customary closing conditions. There is no minimum offering amount required as a condition to closing. The Company expects to receive aggregate gross proceeds of $8.3M, assuming the sale of all of the securities offered, before deducting placement agent fees and other offering expenses payable by the Company.

Megan Holdings, a Malaysia-based company principally engaged in the development, construction, and maintenance of aquaculture farms and related works, priced 1.25M shares at $4.00. The IPO priced at the low end of its $4.00-$6.00 range. The company expects proceeds from the offering will be used for: sales and marketing; expansion opportunities through merger and acquisition activities; development of its "Smart Farming System" and general working capital and corporate purposes. D. Boral Capital acted as sole book running manager for the offering.