Megan Holdings Limited Announces Closing of $8.3 Million Follow-on Public Offering

Rhea-AI Summary

Megan Holdings (Nasdaq: MGN) closed a follow-on public offering of 20,750,000 Class A ordinary shares at $0.40 per share on Feb 27, 2026, generating gross proceeds of US$8.3 million before fees and expenses.

D. Boral Capital acted as exclusive placement agent; the offering was made under an SEC-declared effective Form F-1 (File No. 333-292850) and a final prospectus has been filed.

Positive

• Gross proceeds of US$8.3 million
• Offering size of 20,750,000 Class A ordinary shares

Negative

• Share issuance of 20,750,000 shares may dilute existing shareholders

Key Figures

Offering size: 20,750,000 shares Offering price: $0.40 per share Gross proceeds: $8.3 million +5 more

8 metrics

Offering size 20,750,000 shares Class A ordinary shares sold in follow-on offering

Offering price $0.40 per share Public offering price for follow-on shares

Gross proceeds $8.3 million Gross proceeds before fees and expenses

Par value US$0.0001 per share Par value of Class A ordinary shares

Form F-1 file File No. 333-292850 Registration statement governing the offering

Current price $1.80 Share price before closing announcement

1-day move 46.34% Price change over prior 24 hours

52-week high discount 79.14% below Distance from 52-week high of $8.63

Market Reality Check

Price: $1.80 Vol: Volume 2,582,087 is 13.51...

high vol

$1.80 Last Close

Volume Volume 2,582,087 is 13.51x the 20-day average of 191,100, indicating heightened interest ahead of the offering close. high

Technical Shares at $1.80 are trading below the 200-day MA of $2.00 and 79.14% under the 52-week high of $8.63.

Peers on Argus

No peers were flagged in the momentum scanner, suggesting MGN’s 46.34% move was ...

No peers were flagged in the momentum scanner, suggesting MGN’s 46.34% move was company-specific rather than sector-driven.

Previous Offering Reports

1 past event · Latest: Feb 26 (Neutral)

Same Type Pattern 1 events

Date	Event	Sentiment	Move	Catalyst
Feb 26	Follow-on pricing	Neutral	+46.3%	Priced 20,750,000-share follow-on offering at $0.40 for $8.3M.

Pattern Detected

Limited history shows a strong positive reaction to equity offerings, with the prior follow-on pricing triggering a sharp upside move.

Recent Company History

Recent news flow has centered on equity offerings and capital structure. On Feb 26, 2026, Megan priced a follow-on offering of 20,750,000 Class A shares at $0.40, for gross proceeds of $8.3 million, which saw a 46.34% price move. That followed the $5 million IPO completed on Sep 29, 2025. Today’s closing announcement reflects execution of the already priced offering and continues this capital-raising trajectory.

Historical Comparison

+46.3% avg move · In the past, Megan’s only recorded offering-related news produced a 46.34% move. Today’s closing ann...

offering

+46.3%

Average Historical Move offering

In the past, Megan’s only recorded offering-related news produced a 46.34% move. Today’s closing announcement follows the same capital-raise theme with similar scale.

The company moved from announcing pricing of its $8.3M follow-on offering to confirming closing, advancing the same equity financing plan described in the prior event.

Market Pulse Summary

This announcement confirms the closing of Megan’s follow-on public offering of 20,750,000 Class A sh...

Analysis

This announcement confirms the closing of Megan’s follow-on public offering of 20,750,000 Class A shares at $0.40, raising $8.3 million before fees. It follows prior F-1 filings and a prospectus that outlined capital-raising plans after the $5 million IPO. Investors may track how these funds affect project development and financial trends, alongside governance changes such as the dual-class share structure and concentrated voting power.

Key Terms

follow-on public offering, class a ordinary shares, par value, placement agent, +4 more

8 terms

follow-on public offering financial

"announced the closing of its follow-on public offering (the “Offering”) of 20,750,000"

An offering of new shares by a company that has already gone public, sold to investors to raise additional cash. Like a bakery cutting a larger cake to serve more customers, it increases the number of shares available which can lower each existing share’s claim on profits and ownership; investors watch these offerings because they can dilute current holdings, signal fundraising needs or growth plans, and often affect the stock price in the short term.

class a ordinary shares financial

"Offering”) of 20,750,000 Class A ordinary shares, par value US$0.0001 per share"

Class A ordinary shares are a type of ownership stake in a company that typically grants voting rights to shareholders, allowing them to have a say in important company decisions. They often come with priority in receiving dividends or profits, making them attractive to investors seeking influence and potential income. These shares help distinguish different levels of ownership and rights within a company's stock structure.

par value financial

"Class A ordinary shares, par value US$0.0001 per share, at a public offering"

Par value is the fixed amount printed on a bond or stock that represents its original value when issued. It’s like the face value of a coin or bill—what the issuer promises to pay back or the starting price of a stock—though it often doesn’t change with market prices. It matters because it helps determine certain financial details, like how much the company will pay back at maturity.

placement agent financial

"D. Boral Capital LLC acted as the exclusive placement agent in connection with"

A placement agent is a professional or firm that helps organizations raise money from investors, such as individuals, institutions, or funds. They act like matchmakers, connecting those seeking investments with the right investors and guiding the process to ensure successful funding. For investors, they can provide access to exclusive opportunities and help navigate complex fundraising efforts.

registration statement on form f-1 regulatory

"offered pursuant to a registration statement on Form F-1 (File No. 333-292850)"

A registration statement on Form F-1 is a legal document companies file with regulators to offer their shares to investors in a foreign country or market. It provides essential information about the company's business, finances, and risks, helping investors make informed decisions about whether to buy its stock. This process ensures transparency and protects investors by making company details publicly available before trading begins.

prospectus regulatory

"The Offering was made only by means of a prospectus forming part of the"

A prospectus is a detailed document that explains a company's plans for offering new shares or investments to the public. It’s important because it provides potential investors with key information about the company’s business, risks, and how they might make money, helping them decide whether to invest. Think of it as a guidebook for understanding what you're buying into.

u.s. securities and exchange commission regulatory

"declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on"

The U.S. Securities and Exchange Commission is a government agency responsible for overseeing the stock market and protecting investors. It sets rules to ensure that companies share truthful information and that trading is fair, helping to maintain trust in the financial system. This oversight is important because it helps prevent fraud and ensures that investors can make informed decisions.

securities laws regulatory

"unlawful prior to registration or qualification under the securities laws of any such"

Securities laws are the rules and enforcement systems that govern the buying, selling and disclosure of stocks, bonds and other investment products; think of them as the traffic laws for financial markets that set what must be disclosed, forbid fraud and require fair dealing. They matter to investors because they help ensure companies provide accurate information, reduce the risk of deception or insider advantage, and make it easier to compare investments and seek remedies if something goes wrong.

AI-generated analysis. Not financial advice.

Malaysia, Kuala Lumpur, Feb. 27, 2026 (GLOBE NEWSWIRE) -- Megan Holdings Limited (Nasdaq: MGN) (the “Company” or “Megan”), a Malaysia-based company principally engaged in the development, construction, and maintenance of aquaculture farms and related works, today announced the closing of its follow-on public offering (the “Offering”) of 20,750,000 Class A ordinary shares, par value US$0.0001 per share, at a public offering price of US$0.40 per share.

Gross proceeds to the Company, before deducting placement agent fees and other offering expenses, were US$8.3 million.

D. Boral Capital LLC acted as the exclusive placement agent in connection with the Offering. Ortoli Rosenstadt LLP acted as U.S. securities counsel to the Company. Loeb & Loeb LLP acted as U.S. securities counsel to the placement agent.

The securities described above were offered pursuant to a registration statement on Form F-1 (File No. 333-292850), as amended (the “Registration Statement”), which was declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on February 23, 2026. The Offering was made only by means of a prospectus forming part of the Registration Statement. A final prospectus relating to the Offering has been filed with the SEC. Copies of the final prospectus may be obtained from D. Boral Capital LLC, 590 Madison Avenue, 39th Floor, New York, NY 10022, at +1 (212) 970-5150.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.

About Megan Holdings Limited

Megan is a Malaysia-based company principally engaged in the development, construction, and maintenance of aquaculture farms and related works. Since its inception in 2020, the Company has strived to establish itself as a trusted and experienced provider of shrimp farm related maintenance services in Malaysia. Complementary to its upgrading and maintenance services, Megan also assist customers with the design and development of new farms, including the development and construction of a shrimp hatchery center in Semporna, Sabah, and the development of a 111-acre shrimp farm in Tawau, Sabah, Malaysia. Megan also assists customers in sourcing building materials and machineries available for rental for use on their farms, positioning itself as a one-stop center for aquaculture and agriculture needs. For more information, please visit the company’s website: https://www.meganmezanin.com/.

Forward-Looking Statements

Certain statements in this announcement are forward-looking statements, including, but not limited to, the Company’s proposed Offering. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy, and financial needs. Investors can find many (but not all) of these statements by the use of words such as “believe”, “plan”, “expect”, “intend”, “should”, “seek”, “estimate”, “will”, “aim” and “anticipate” or other similar expressions in this prospectus. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in its registration statement on Form F-1 and other filings with the SEC.

For media inquiries, please contact:

Megan Holdings Limited

Investor Relations Department
Email: info@meganmezanin.com

FAQ

What did Megan Holdings (MGN) announce on Feb 27, 2026 about the follow-on offering?

The company closed a follow-on offering of 20,750,000 Class A shares at $0.40 per share. According to the company, the offering raised gross proceeds of US$8.3 million before placement agent fees and expenses.

How much gross proceeds did Megan Holdings (MGN) raise from the Feb 27, 2026 offering?

Megan Holdings raised gross proceeds of US$8.3 million from the offering. According to the company, this amount is before deducting placement agent fees and other offering expenses.

Who acted as placement agent and counsel for Megan Holdings (MGN) in the Feb 27, 2026 offering?

D. Boral Capital LLC served as exclusive placement agent for the offering. According to the company, Ortoli Rosenstadt LLP and Loeb & Loeb LLP acted as U.S. securities counsel to the company and placement agent, respectively.

Under what SEC filing was Megan Holdings' (MGN) Feb 2026 follow-on offering made?

The offering was made pursuant to a Form F-1 registration statement declared effective Feb 23, 2026. According to the company, the final prospectus related to the offering has been filed with the SEC.

How many shares and at what price did Megan Holdings (MGN) sell in the Feb 27, 2026 offering?

Megan Holdings sold 20,750,000 Class A ordinary shares at a public offering price of $0.40 per share. According to the company, the shares have a par value of US$0.0001 per share.

Where can investors obtain the final prospectus for Megan Holdings' (MGN) Feb 2026 offering?

Investors may obtain the final prospectus from D. Boral Capital LLC at its listed New York address and phone number. According to the company, the prospectus forms part of the effective Form F-1 registration statement.