Antelope Enterprise Holdings Ltd (AEHL) Form 424B5 — Oct 22, 2026
Antelope Enterprise Holdings filed Amendment No. 1 to its October 1, 2026 prospectus supplement for its $100 million at-the-market offering with D. Boral Capital as sales agent. The amendment adds a stark dilution risk factor: 15 million warrants at a $0.50 exercise price and a $6 million convertible note convertible at 80% of the lowest daily VWAP are outstanding against only about 16.5 million shares — potential share-count expansion approaching 90%.
Key figures
- Gross Proceeds
- 100000000
- Offering Price
- assumed $8.59 for dilution illustration; last reported sale price $9.60 (Oct 16, 2026)
- Shares Offered
- up to 11,641,443 shares via ATM
- Shares Outstanding
- 16459359
- Private placement
- 15,000,000 shares + 15,000,000 warrants for $18,990,000 (Sept 3, 2026)
- Reverse stock split
- 12,000,000 shares became 750,000 shares in April 2026
- Warrants outstanding
- 15,000,000 Class A shares at $0.50 exercise price (issued Sept 3, 2026)
- Note conversion terms
- 80% of lowest daily VWAP over 3 trading days
- Convertible note original
- $6,000,000 principal (Sept 10, 2026)
- Dilution to new investors
- $0.39 per share (illustrative)
- Agent commissions estimated
- 2500000
- Offering expenses estimated
- 65000
- Convertible note outstanding
- $550,000 principal as of Oct 20, 2026
- Registered for note conversion
- 12,000,000 shares
- Shares outstanding after offering
- Up to 43,100,802
AI analysis
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