MKDWELL Tech Inc. (MKDW) Form 424B5 — Sep 11, 2026
MKDWELL Tech Inc. filed a prospectus supplement dated September 11, 2026 establishing a $100,000,000 at-the-market equity program through Maxim Group LLC, allowing the company to sell ordinary shares at prevailing market prices from time to time on Nasdaq. The urgency behind the raise is clear: the company held just $38,000 in cash as of June 30, 2026 against $5.8 million of total debt, with negative net tangible book value of $0.97 per share. Proceeds are earmarked for general corporate purposes, and the agent earns commissions of 2.5% to 3.0% depending on volume.
Key figures
- Total Debt
- 5847000
- Cash Position
- 38000
- Gross Proceeds
- 100000000
- Offering Price
- at-the-market at prevailing prices; $5.10 close on September 10, 2026
- Shares Offered
- up to ~10,101,010 shares assumed at $9.90; actual number varies with market price
- Public float
- $75,673,927 (7,643,831 non-affiliate shares at $9.90)
- Class a preferred
- 274,367 shares, 100 votes each, all held by CEO
- Ntbv june 30 2026
- negative $4,070,743, or negative $0.97 per share
- Reverse split ratio
- 1-for-30 (effective January 26, 2026)
- Warrants outstanding
- 6,036,875 at $345.00 exercise (30 warrants per share), expiring July 31, 2029
- Agent commission tiers
- 3.0% on first $10M; 2.75% on $10-20M; 2.5% above $20M
- Landvision acquisition
- 30,000,000 shares at $8.00 = $240.0 million, ~87.72% of post-deal shares (closed August 7, 2026)
- Close price sept 9 2026
- 9.9
- Taiwan fx remit ceiling
- $50,000,000 per calendar year without special CBC approval
- Close price sept 10 2026
- 5.1
- Pro forma as adjusted cash
- 97473000
- Pro forma as adjusted ntbv
- $95.1 million, or $2.15 per share (assumes full $100M sale)
- Shares outstanding sept 9 2026
- 34198442
- Dilution per share to new investors
- 7.75
- Max shares outstanding post offering
- 44299452
AI analysis
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