Skyline Builders Group Holding Ltd. Announces Closing of $31.59 Million Private Placement

Core Viewpoint - Skyline Builders Group Holding Limited has successfully closed a private placement of Series B Preferred Shares, raising approximately $31.59 million for general working capital and corporate purposes [1][4]. Group 1: Private Placement Details - The company issued a total of 6,322 Preferred Shares, with about $26.59 million issued under Regulation D to accredited investors and approximately $5 million under Regulation S to non-US investors [1]. - Class A ordinary share purchase warrants were issued to placement agents, allowing them to purchase shares equal to 6% of the Class A ordinary shares underlying the Preferred Shares [2]. Group 2: Conversion and Exercise Terms - Each Preferred Share is convertible into Class A ordinary shares at a conversion price of $2.40, with a minimum price of $1.50 and adjustments for share splits and similar transactions [3]. - Placement Agent Warrants are immediately exercisable at an exercise price of $2.40 per share [3]. Group 3: Company Overview - Skyline Builders Group operates as an Approved Public Works Contractor in Hong Kong, focusing on civil engineering works such as roads and drainage [7]. - The company primarily undertakes public sector infrastructure projects and private sector residential and commercial developments [7].