SEC Filing ● Major ⚠ 5
SKK: 424B5 · prospectus supplement
SKK Holdings Limited priced a registered direct offering of 770,000 Class A ordinary shares at $4.46 per share for estimated gross proceeds of $3,434,200, with closing expected on or about August 17, 2026 under prospectus supplement 424B5. The price sits above the $4.17 last reported Nasdaq sale on August 11, 2026.
Unusually, the company expects to receive the consideration in USD Coin (USDC) and/or Tether (USDT) stablecoins, which it intends to hold in a digital asset reserve and may convert into U.S. dollars or other fiat for working capital and general corporate purposes. No underwriter or placement agent is involved and no commissions or discounts will be paid.
The raise is dilutive: new investors face immediate dilution of approximately $1.78 per share, and shares outstanding rise from 2,105,332 to 2,875,332 Class A ordinary shares (plus 1,085,264 Class B), roughly a 19% increase in total ordinary shares. Pro forma as adjusted net tangible book value is approximately $10.6 million, or $2.68 per share.
Context: SKK, a Singapore civil engineering micro-cap with an ~$11.0 million non-affiliate float and a fresh 1-for-10 share consolidation (April 6, 2026), is separately awaiting closing of its Rantizo, Inc. asset purchase — $759,047 cash plus roughly $258.8 million in stock, approved by shareholders on June 22, 2026 — which would dwarf this offering in dilutive impact.
SEC 424B5 • 2mo ago