Skyline Builders Group Holding Raises $23.9 Million in Private Placement
Reuters
Oct 29
Skyline Builders Group Holding Raises $23.9 Million in Private Placement
Skyline Builders Group Holding Ltd. (NASDAQ: SKBL), a civil engineering services provider in Hong Kong, has announced the pricing of a private placement with certain accredited investors. The company will issue 17,370,909 Class A ordinary shares (and/or prefunded warrants in lieu of shares), together with an equal number of ordinary share purchase warrants, at a combined purchase price of $1.375 per share and warrant (or $1.37499 for a prefunded warrant and warrant). The private placement is expected to raise approximately $23.9 million in gross proceeds before fees and expenses. Each prefunded warrant is immediately exercisable at $0.0001 per share, while each ordinary warrant is immediately exercisable at $1.50 per share for five years from issuance. Net proceeds from the offering will be used for general working capital and other corporate purposes. Dominari Securities LLC, Revere Securities LLC, and Pacific Century Securities are acting as co-placement agents.
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