FST Corp. Establishes $10.4 Million At-the-Market Equity Offering Program
Rhea-AI Summary
FST Corp (NASDAQ: KBSX) established a $10.4 million at-the-market (ATM) equity offering program, allowing periodic sales of ordinary shares through H.C. Wainwright as sales agent or principal.
The program is intended to fund working capital, global expansion, product development, marketing, and potential strategic transactions.
Positive
- ATM program authorizes up to $10.4 million in ordinary share sales
- Flexible capital access via multiple Nasdaq and negotiated transaction methods
- Net proceeds earmarked for working capital and general corporate purposes
- Planned use of funds includes global sales expansion and distribution capabilities
- Capital expected to support new product development and commercialization efforts
- Program may fund acquisitions, investments, joint ventures, and partnerships
Negative
- ATM equity sales could lead to shareholder dilution if fully or partially utilized
- H.C. Wainwright will receive a 3.0% commission on gross offering proceeds, reducing net capital raised
- Ongoing ability to sell shares may create an equity overhang that could weigh on investor sentiment
News Market Reaction – KBSX
In the Jul 2 session, KBSX declined 1.53%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Jun 03 | Conference appearance | Neutral | -1.4% | Announcement of participation and presentation at Planet MicroCap Las Vegas 2026. |
| May 21 | Expansion announcement | Positive | -1.4% | Opening of new UK office to support over 500 retail golf shops. |
| May 06 | Q1 2026 earnings | Positive | +1.6% | 36% revenue increase and swing to $1.9M net income in Q1 2026. |
| Apr 21 | FY 2025 results | Positive | +18.0% | 31% revenue growth and narrowed net loss for fiscal 2025. |
| Apr 15 | Earnings scheduling | Neutral | -0.0% | Notice of April 22, 2026 audited full-year 2025 results call. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Earnings-related announcements have previously aligned with positive price reactions, while operational and conference updates have seen more muted or negative responses.
Key Terms
at-the-market equity offering financial
at the market offering regulatory
rule 415(a)(4) regulatory
form f-3 regulatory
prospectus supplement regulatory
AI-generated analysis. How Rhea-AI works. Not financial advice.
Boulder, Colorado--(Newsfile Corp. - July 2, 2026) - FST Corp. (NASDAQ: KBSX) ("FST", or the "Company"), a leading manufacturer and marketer of steel and graphite golf shafts and a provider of other golf-related services, today announced it has established an at-the-market equity offering program (the "ATM Program") pursuant to which the Company may from time to time issue and sell its ordinary shares, par value
Sales of Ordinary Shares under the ATM Program, if any, will be made pursuant to an At The Market Offering Agreement, dated June 28, 2026 (the "Sales Agreement"), with H.C. Wainwright & Co., LLC ("Wainwright"), acting as the Company's sales agent or principal. Sales may be made by any method deemed to be an "at the market offering" as defined in Rule 415(a)(4) under the Securities Act of 1933, as amended (the "Securities Act"), including sales made directly on or through the Nasdaq Global Market, the existing trading market for the Ordinary Shares, sales made to or through a market maker other than on an exchange or otherwise, directly to Wainwright as principal, in negotiated transactions at prevailing market prices at the time of sale or at prices related to such prevailing market prices, and/or any other method permitted by law. Wainwright will be entitled to a fixed commission of
The ATM Program provides the Company with additional financial flexibility and allows FST to access the capital markets opportunistically, subject to market conditions. FST intends to use the net proceeds from the ATM Program for working capital and general corporate purposes, including supporting the continued growth of its business, expanding its global sales and distribution capabilities to support customer demand, investing in new product development and commercialization, and enhancing its marketing and brand initiatives. The Company also may use a portion of the net proceeds to support strategic business development initiatives, including potential acquisitions, investments, joint ventures, or commercial partnerships believed to complement its business, products, and long-term growth strategy,
"Establishing this ATM Program gives FST added financial flexibility to raise capital efficiently as we execute on our growth strategy," said FST Chief Executive Officer David Chuang, "It also strengthens our balance sheet and positions the Company to continue building the KBS brand on a global scale, all while creating long-term value for our shareholders."
The ATM Program will be conducted pursuant to a prospectus supplement and an accompanying base prospectus filed with the U.S. Securities and Exchange Commission (the "SEC"). The Company has filed a registration statement on Form F-3, including a base prospectus, and a prospectus supplement with the SEC relating to the ATM Program. Prospective investors should read the prospectus supplement and the accompanying prospectus, together with the documents incorporated by reference therein, for more complete information about the Company and the ATM Program. Copies of the prospectus supplement and the accompanying prospectus relating to these securities are available on the SEC's website at www.sec.gov or may be obtained from H.C. Wainwright & Co., LLC, 430 Park Avenue, 3rd Floor, New York, NY 10022, or by telephone at (212) 356-0500.
About FST Corp.
Founded in 1989, FST Corp. manufactures and sells golf club shafts, along with other golf-related items, to golf equipment brands, OEMs, distributors, and consumers via the company's KBS Golf Experience retail outlets. FST's equipment, marketed under the KBS brand, is utilized by golfers at all levels, including many professional players participating in the PGA and other major golf associations. The company's product portfolio, retail presence, and golf-related services are part of a vertically integrated business model that has established the KBS brand on a global scale and created significant competitive advantages over peer brands. The company's growth strategies currently position it for expansion into under-tapped golf shaft markets.
Forward-Looking Statements
This press release contains forward-looking statements regarding future expectations, plans, and prospects, as well as statements that are not historical facts. These statements involve known and unknown risks, uncertainties, and assumptions based on the Company's current expectations about events that may impact its financial condition, results, strategy, and needs. Forward-looking statements can often be identified by terms such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "likely," and similar expressions.
The Company assumes no obligation to update or revise these statements to reflect new events or changes in expectations, except as required by law. While these statements reflect reasonable expectations, actual results may differ materially. Investors are encouraged to review the Company's registration statement and SEC filings for additional information on factors that may impact future results.
Company Contact:
FST Corp.
1801 13th Street, Suite 306
Boulder, CO 80302
Office: 303-444-2226
Email: investorrelations@fstshafts.com
Investor Relations Inquiries:
Skyline Corporate Communications Group, LLC
Scott Powell, President
1177 Avenue of the Americas, 5th Floor
New York, New York 10036
Office: (646) 893-5835
Email: ir@skylineccg.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/303768