Park Ha Biological Technology Co., Ltd. Announces Pricing of US$2.45 Million Best-Efforts Follow-on Public Offering

Rhea-AI Summary

Park Ha Biological Technology (NASDAQ: BYAH) priced a best-efforts follow-on offering of 21,875,000 units at US$0.112 per unit, with each unit containing one Class A ordinary share and one warrant (warrants exercisable at US$0.112 or via zero-price option up to nine shares). The company expects aggregate gross proceeds of US$2.45 million before placement agent commissions and expenses. Warrants are exercisable from issuance until the one-year anniversary. Closing is expected on or about January 28, 2026, subject to customary conditions. The company intends to use net proceeds to expand directly operated stores in China. D. Boral Capital LLC is sole placement agent and the offering is made under an effective Form F-1 registration statement.

Positive

• Offering sized at 21,875,000 units priced at US$0.112 per unit
• Expected gross proceeds of US$2.45 million to fund expansion
• Use of proceeds targeted to expand directly operated stores in China

Negative

• Potential dilution from 21,875,000 shares plus warrants
• Gross proceeds are before placement agent commissions and expenses, reducing net proceeds
• Warrants exercisable within one year at a low exercise price (US$0.112), increasing short-term dilution risk

Key Figures

Units offered: 21,875,000 units Offering price: US$0.112 per Unit Warrant coverage: 1 warrant per Unit +5 more

8 metrics

Units offered 21,875,000 units Best-efforts follow-on public offering

Offering price US$0.112 per Unit Follow-on public offering price

Warrant coverage 1 warrant per Unit Each Unit includes one warrant

Warrant exercise price US$0.112 per share Exercise price for each Class A Ordinary Share

Gross proceeds US$2.45 million Aggregate gross proceeds before fees, excluding warrant exercise

Zero exercise option cap up to nine Class A shares Per warrant under zero exercise price option

Form type Form F-1 (File No. 333-290410) Effective registration statement for this offering

Warrant term One year Exercisable from issuance date to one-year anniversary

Market Reality Check

Price: $0.3850 Vol: Volume 428,938 is about 1...

normal vol

$0.3850 Last Close

Volume Volume 428,938 is about 1.19x the 20-day average of 361,616 shares ahead of the offering. normal

Technical Shares trade below the 200-day moving average at $8.17, with the stock far off its 52-week high of $41.49.

Peers on Argus

Sector peers such as RAY, UG, TANH, and DSY show negative price changes, but no ...

Sector peers such as RAY, UG, TANH, and DSY show negative price changes, but no peers appeared in the momentum scanner and no same-day peer news was flagged, pointing to this follow-on offering as a stock-specific catalyst.

Historical Context

1 past event · Latest: Oct 24 (Positive)

Pattern 1 events

Date	Event	Sentiment	Move	Catalyst
Oct 24	Ticker change	Positive	+5.4%	Nasdaq ticker change to BYAH to reduce confusion and support brand value.

Pattern Detected

Limited history shows a prior corporate action (ticker change) coinciding with a positive price reaction.

Recent Company History

In the past six months, Park Ha Biological Technology reported a Nasdaq ticker change from PHH to BYAH, effective Oct 28, 2025. That administrative update was framed as a branding and clarity move and saw a 5.39% positive 24-hour reaction. Recent regulatory filings highlight governance changes, a dual-class share structure, and Nasdaq deficiency notices on bid price and market value. Against this backdrop, the current follow-on offering adds a capital-raising and dilution-related event to the company’s trajectory.

Market Pulse Summary

This announcement details a best-efforts follow-on offering of 21,875,000 units at US$0.112, includi...

Analysis

This announcement details a best-efforts follow-on offering of 21,875,000 units at US$0.112, including warrants and expected gross proceeds of US$2.45 million. The company plans to channel funds into expanding directly operated stores in China. Context from recent filings shows Nasdaq listing deficiencies on bid price and market value, plus a dual-class share structure. Investors may watch execution of the expansion strategy, warrant exercises over the one-year term, and progress on regaining Nasdaq compliance.

Key Terms

follow-on public offering, warrant, registration statement, form f-1, +2 more

6 terms

follow-on public offering financial

"pricing of a best-efforts follow-on public offering of 21,875,000 units"

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.

warrant financial

"and one warrant to purchase one Class A Ordinary Share"

A warrant is a time-limited financial contract that gives its holder the right to buy a company's shares at a set price before a specified date, like a coupon that lets you purchase stock at a fixed discount for a limited time. It matters to investors because warrants offer leveraged exposure to a stock’s upside and can dilute existing shareholders if exercised, so they affect potential gains and the company’s outstanding share count.

registration statement regulatory

"pursuant to a registration statement on Form F-1 (File No. 333-290410)"

A registration statement is a formal document that companies file with a government agency to offer new shares of stock to the public. It provides essential information about the company's finances, operations, and risks, helping investors make informed decisions. Think of it as a detailed product description that ensures transparency and trust before buying into a company.

form f-1 regulatory

"pursuant to a registration statement on Form F-1 (File No. 333-290410)"

A Form F-1 is the document a non-U.S. company files with U.S. regulators when it wants to sell stock or other securities to U.S. investors. It lays out the company’s business, finances, risks and how the offering will work, acting like a product manual and ingredient list so investors can judge what they’re buying. For investors, it’s a key source of verified information used to compare opportunities and assess potential reward and risk.

prospectus regulatory

"The offering is being made only by means of a prospectus forming part"

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.

placement agent financial

"D. Boral Capital LLC is acting as the Sole Placement Agent for the offering"

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.

AI-generated analysis. Not financial advice.

Wuxi, China, Jan. 27, 2026 (GLOBE NEWSWIRE) -- Park Ha Biological Technology Co., Ltd. (NASDAQ: BYAH) (the “Company”) today announced the pricing of a best-efforts follow-on public offering of 21,875,000 units (each a “Unit”) at an offering price of US$0.112  per Unit.

Each Unit consists of one Class A ordinary share of the Company, par value US$0.00002 per share (each, a “Class A Ordinary Share”) and one warrant to purchase one Class A Ordinary Share (or up to nine Class A Ordinary Shares pursuant to the zero exercise price option)  (each, a “Warrant”). Each Warrant will have an exercise price of US$0.112 per Class A Ordinary Share and will be exercisable beginning on the issuance date and ending on the one-year anniversary of the issuance date.

The Company expects to receive aggregate gross proceeds of US$2.45  million from the offering, before deducting placement agent commissions and other estimated expenses payable by the Company, excluding the exercise of any Warrant offered.

The offering is expected to close on or about January 28, 2026, subject to satisfaction of customary closing conditions. The Company intends to use the net proceeds from this offering for the expansion of directly operated stores in China, and the specific allocation of net proceeds to each market will be based on market conditions.

D. Boral Capital LLC is acting as the Sole Placement Agent for the offering.

The securities described above are being offered by the Company pursuant to a registration statement on Form F-1 (File No. 333-290410), as amended, previously filed and declared effective by the U.S. Securities and Exchange Commission (the “SEC”). This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction. The offering is being made only by means of a prospectus forming part of the effective registration statement. A final prospectus related to the offering will be filed with the SEC and will be available on the SEC’s website at www.sec.gov. Electronic copies of the final prospectus may be obtained, when available, from D. Boral Capital LLC at info@dboralcapital.com, or by calling +1 (212) 970-5150.

About Park Ha Biological Technology Co., Ltd.

Established in 2016, Park Ha Biological Technology Co., Ltd. is primarily engaged in developing its private skincare label, direct skincare products sales and franchise alliances promotions under the proprietary brand “Park Ha”, with a commitment to providing cost-effective solutions to skin problems and improving the confidence of women in need of skin treatment. As of April 30, 2025, the Company has three directly operated stores and 39 franchisees, of which 38 and one operate under the store name “Park Ha” and “Geni” respectively, in China. As part of its value-added service for the products, the Company offers “light beauty experience”, a quick complimentary after-sales beauty service performed in the directly-operated stores and franchise stores. For more information, please visit the Company’s website: http://ir.parkha.cn/.

Forward-Looking Statements

Certain statements in this announcement are forward-looking statements. 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 “approximates,” “believes,” “hopes,” “expects,” “anticipates,” “estimates,” “projects,” “intends,” “plans,” “will,” “would,” “should,” “could,” “may” or other similar expressions in this announcement. 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 the Company’s registration statement and other filings with the SEC.

For more information, please contact:

D. Boral Capital LLC
590 Madison Avenue, 39th Floor
New York, NY 10022
Main Phone: +1 (212) 970-5150
www.dboralcapital.com
info@dboralcapital.com

Park Ha Biological Technology Co., Ltd.
901, Building C
Phase 2, Wuxi International Life Science Innovation Campus
196 Jinghui East Road
Xinwu District, Wuxi, Jiangsu Province
People’s Republic of China 214000
http://ir.parkha.cn/
ir_parkha@163.com

FAQ

What did Park Ha Biological (NASDAQ: BYAH) announce on January 27, 2026?

The company priced a best-efforts follow-on offering of 21,875,000 units at US$0.112 per unit, expecting US$2.45 million gross proceeds.

What does each Park Ha unit include in the BYAH offering?

Each unit includes one Class A ordinary share and one warrant to purchase one Class A ordinary share (or up to nine via the zero exercise price option).

When will the Park Ha (BYAH) offering close and when do warrants expire?

The offering is expected to close on or about January 28, 2026, and warrants are exercisable from issuance until the one-year anniversary.

How does Park Ha plan to use the net proceeds from the BYAH offering?

The company intends to use net proceeds to expand directly operated stores in China, with allocation based on market conditions.

Who is the placement agent and where is the offering registered for Park Ha (BYAH)?

D. Boral Capital LLC is the sole placement agent and the offering is being made under an effective Form F-1 (File No. 333-290410) registration statement.