Blue Gold Ltd (BGL) Form 424B3 — Aug 5, 2026
Blue Gold Limited filed Prospectus Supplement No. 1 registering up to 11,500,000 Class A ordinary shares issuable upon exercise of warrants struck at $11.50, which would generate roughly $132.3 million if exercised in full, plus 7,896,565 shares for resale by selling shareholders from whom the company receives no proceeds. The supplement concedes the warrants are deeply out of the money: shares closed at $0.21 on July 29, 2026 after swinging between $0.20 and $133.00 since the June 2025 SPAC de-SPAC, with no material changes in financial condition to explain the volatility.
Key figures
- Gross Proceeds
- approximately $132.3 million if all 11,500,000 warrants are exercised in full
- Offering Price
- 11.5
- Shares Offered
- 11,500,000 primary (Class A shares issuable on warrant exercise) plus 7,896,565 secondary (selling shareholders)
- Egm date
- July 24, 2026
- Conversion cap
- 19.99% of common stock outstanding
- Share volume range
- 30,900 to 29,059,500
- Share close 2026 07 29
- 0.21
- Warrant exercise price
- 11.5
- Calbank epa bond deposit
- 3500000
- Warrant close 2026 07 29
- 0.05
- Series a conversion ratio
- 1 preferred share converts into 1,000 common shares
- Warrant shares registered
- 11500000
- Converted accounts payable
- 3617176
- Selling shareholder shares
- 7896565
- Shareholders equity improvement expected
- approximately $30 million
- Share price range jun26 2025 to jul29 2026
- $0.20 to $133.00
AI analysis
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