Skyline Builders Initiates $17.775 Million Private Placement
Securities Purchase Agreement: Skyline Builders Group has signed an agreement to issue up to 24.35 million Class A shares and prefunded warrants at a price of $0.73 per share, along with additional warrants for the same amount.
Expected Proceeds: The private placement is anticipated to raise approximately $17.8 million in gross proceeds before any fees and expenses.
Use of Funds: About $7 million of the proceeds will be used to retire 18.5 million Class A ordinary shares owned by Supreme Development, while the remaining funds will be allocated for general working capital and corporate purposes.
Stock Performance: Following the announcement, SKBL shares rose by 15.61% in premarket trading, reaching a price of $0.622.
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Skyline Builders Group Holding Ltd. Reveals Pricing for $23.9 Million Private Placement
Securities Offering Announcement: Skyline Builders Group Holding Limited has entered into a securities purchase agreement for a private placement, offering 17,370,909 Class A ordinary shares and warrants, aiming to raise approximately $23.9 million.
Warrant Details: The offering includes prefunded warrants and ordinary warrants, with specific exercise prices and terms, and is expected to close around October 30, 2025, pending customary conditions.
Use of Proceeds: The company plans to utilize the net proceeds from the offering for general working capital and corporate purposes.
Regulatory Compliance: The securities will not be registered under the Securities Act and cannot be sold in the U.S. unless registered or exempt, with a commitment to file a registration statement for resale of the shares.
Skyline Builders Group Holding Ltd. Completes $17.775 Million Private Placement Deal
Private Placement Announcement: Skyline Builders Group Holding Limited closed a private placement on August 29, 2025, raising approximately $17.8 million through the sale of Class A ordinary shares and various warrants, with proceeds primarily used to retire shares owned by the CEO and for general working capital.
Company Overview: Skyline Builders operates as a civil engineering contractor in Hong Kong, focusing on public infrastructure projects such as roads and drainage, and is qualified to work as both a subcontractor and main contractor.