WF Holding Limited announced that its previously announced registered direct offering closed on or about October 15, 2026. Institutional investors agreed to buy 12 million ordinary shares at $1.50 per share. The offering generated approximately $18 million in gross proceeds.
The deal also included 12 million warrants, each with an exercise price of $1.50. A cashless exercise option could allow holders to acquire up to nine additional ordinary shares per warrant, potentially resulting in the issuance of 108 million more shares.
The company announced the offering on October 14. Its stock fell sharply amid concerns about potential dilution.