Skyline Builders Group Holding Ltd. Announces $17.775 Million Private Placement

Core Viewpoint - Skyline Builders Group Holding Limited has announced a definitive securities purchase agreement for the issuance and sale of up to 24,349,315 Class A Ordinary Shares and prefunded warrants, aiming to raise approximately $17,775,000 before fees and expenses [1][3]. Group 1: Offering Details - The offering price is set at $0.73 per share, with each prefunded warrant allowing the holder to acquire one Ordinary Share at an exercise price of $0.0001 per share [2]. - The A Warrants are immediately exercisable at an exercise price of $0.60 per share for five years, while the B Warrants are also immediately exercisable at $0.65 per share for the same period [2]. - The private placement is expected to close on August 27, 2025, subject to customary closing conditions [2]. Group 2: Use of Proceeds - Approximately $7,000,000 of the proceeds will be used to retire 18,500,000 Class A Ordinary Shares owned by Supreme Development (BVI) Holdings Limited, which is beneficially owned by the Company's CEO [3]. - The remaining proceeds will be allocated for general working capital and other corporate purposes [3]. Group 3: Company Overview - Skyline Builders Group Holding Limited operates as an Approved Public Works Contractor in Hong Kong, focusing on civil engineering services, particularly in roads and drainage [7]. - The company primarily undertakes public civil engineering works as a subcontractor but is also qualified to act as a main contractor [7]. - Its projects include infrastructure developments in the public sector and residential and commercial developments in the private sector [7].