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

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.

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

Argus Mar 2 session

+21.50% close to close Open Argus

Details

News Market Reaction – MGN

On Mar 2, the first trading day after this news, MGN closed 21.50% above the previous close.

Data tracked by StockTitan Argus for the Mar 2 session.

Key Figures

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

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

Previous Offering Reports

1 past event · Latest: Feb 26

Same Type 1 event

1. Feb 26

   Follow-on pricing

   24h Move

   +46.3%

   Priced 20,750,000-share follow-on offering at $0.40 for $8.3M.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

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. How Rhea-AI works. Not financial advice.

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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

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

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.