Basel Medical Group Ltd prices $7.98M registered direct offering of units
On October 7, 2026, Basel Medical Group Ltd (Nasdaq: BMGL) entered into a placement agency agreement with Cathay Securities, Inc. and a securities purchase agreement with certain purchasers to issue and sell 6,000,000 units at $1.33 per unit in a registered direct offering, for total gross proceeds of US$7.98 million and estimated net proceeds of approximately US$7.28 million. Each unit consists of one ordinary share (or one Pre-Funded Warrant in lieu thereof) and one Common Warrant exercisable at 110% of the un...
Key takeaways
Deal size: 6,000,000 units at US$1.33 per unit, for US$7.98 million gross and approximately US$7.28 million net proceeds.
Unit structure: each unit comprises one Ordinary Share (or one Pre-Funded Warrant exercisable at US$0.01) plus one Common Warrant exercisable at US$1.463 (110% of unit price) with a five-year term and a zero-cash exercise option.
Share-count impact: outstanding Ordinary Shares rise from 1,582,111 pre-offering to 7,582,111 immediately upon closing, with 6,000,000 Common Warrants also outstanding.
Use of proceeds: general working capital, potential mergers and acquisitions, and other general corporate purposes.
Placement agent economics: Cathay Securities, Inc. is the exclusive placement agent, receiving a 6.0% cash fee on gross proceeds and expense reimbursement capped at US$60,000 (with a US$20,000 advance).
Lock-up and restrictions: 180-day lock-up applies to the Company, its executive officers, directors, and certain 5%+ shareholders, including a prohibition on additional Variable Rate Transactions without placement-agent consent.
Registration and timing: offered under effective Form F-1 (File No. 333-298988); placement agency and securities purchase agreements signed October 7, 2026, with closing via Delivery Versus Payment.
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