Skyline Builders Group Holding Ltd. Announces Closing of $23.9 Million Private Placement

Core Viewpoint - Skyline Builders Group Holding Limited has successfully closed a private placement, raising approximately $23.885 million through the issuance of Class A Ordinary Shares and warrants [1][2]. Group 1: Private Placement Details - The private placement involved the issuance of 17,370,909 Class A Ordinary Shares and/or Prefunded Warrants, along with Class A Ordinary Share Purchase Warrants [1]. - The purchase price for one Class A Ordinary Share and one Ordinary Warrant was set at $1.375, while the combination of one Prefunded Warrant and one Ordinary Warrant was priced at $1.37499 [1]. - Each Prefunded Warrant is immediately exercisable at an exercise price of $0.0001 per share, and each Ordinary Warrant is exercisable at an exercise price of $1.50 per share until the fifth anniversary of issuance [2]. Group 2: Use of Proceeds - The net proceeds from the private placement will be utilized for general working capital and other corporate purposes [2]. 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 [6]. - The company primarily undertakes public civil engineering works as a subcontractor but is also qualified to act as a main contractor [6]. - Its projects include infrastructure developments in the public sector and residential and commercial developments in the private sector [6].