Recon Technology, Ltd Announces $100 Million "At-the-Market" Equity Offering Program

Rhea-AI Summary

Recon Technology (NASDAQ: RCON) has established an At-the-Market (“ATM”) Issuance Sales Agreement dated July 28, 2026, allowing it to offer and sell up to $100 million of Class A ordinary shares, par value $0.0001, from time to time through Pacific Century Securities as exclusive sales agent or principal.

Sales will occur at prices tied to prevailing market levels, with volume and timing at the company’s discretion. According to Recon Technology, net proceeds are intended for general corporate purposes, including working capital, operating expenses, capital expenditures, potential acquisitions, business development and other growth initiatives. The shares will be issued under the company’s effective Form F-3 shelf registration statement (No. 333-292540) and a prospectus supplement dated July 28, 2026, filed with the SEC. Total sales are capped by the $100 million program size, shelf capacity and the number of authorized but unissued Class A shares.

Positive

• ATM equity program of up to $100 million established
• Flexible issuance timing and volume at company’s discretion
• Use of proceeds targeted to working capital and growth initiatives

Negative

• Program allows issuance of up to $100 million in new shares
• Aggregate sales limited by authorized but unissued Class A shares

News Explained

The July 31 release announces an agreement that permits, rather than reports, Class A share sales; if shares are issued, total share count rises and existing holders’ percentage ownership falls absent offsetting changes, while the release reports no completed sales.

Market Context

RCON's prior earnings-news move of -8.06% adds a negative comparison point to this ATM announcement....

Analysis

RCON's prior earnings-news move of -8.06% adds a negative comparison point to this ATM announcement. The platform record highlights potential dilution risk; subsequent filings can establish whether program sales occurred.

Key Figures

ATM offering capacity: $100 million Par value: $0.0001 per share Agreement date: July 28, 2026

3 metrics

ATM offering capacity $100 million ATM Program aggregate offering value

Par value $0.0001 per share Class A ordinary shares

Agreement date July 28, 2026 ATM Issuance Sales Agreement

Historical Context

2 past events · Latest: May 06 (Negative)

Pattern 2 events

Date	Event	Sentiment	24h Move	Catalyst
May 06	Nasdaq compliance notice	Negative	-0.3%	Nasdaq notified Recon of noncompliance with the $1.00 minimum bid requirement.
Mar 13	Earnings report	Positive	-8.1%	Fiscal six-month revenue increased while the net loss narrowed year over year.

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

Pattern Detected

Prior reactions showed mixed alignment: positive earnings news preceded a -8.06% move, while a negative Nasdaq compliance notice preceded a -0.32% move.

Key Terms

at-the-market offering, rule 415, form f-3, shelf registration statement

4 terms

at-the-market offering financial

"by methods deemed to be an "at the market offering""

An at-the-market offering is a method companies use to sell new shares of stock directly into the open market over time, rather than all at once. This allows them to raise money gradually, similar to selling small pieces of a product instead of a large batch. For investors, it means the company can access funding more flexibly, but it may also increase the supply of shares and influence the stock’s price.

rule 415 regulatory

"as defined in Rule 415 promulgated under the Securities Act"

Rule 415 is a U.S. Securities and Exchange Commission regulation that lets a company register securities ahead of time and then offer them for sale in pieces over an extended period under a “shelf” registration, so offerings can be launched quickly when market conditions suit the issuer. For investors, it signals that management has a ready way to raise capital fast—useful for seizing opportunities but potentially dilutive to existing shareholders, like a company pre-loading a credit line it can tap as needed.

form f-3 regulatory

"existing effective shelf registration statement on Form F-3"

Form F-3 is a U.S. securities filing that lets eligible foreign companies pre-register and then quickly sell shares or other securities to raise money, because they already meet ongoing reporting and size tests. For investors it signals that the company is up-to-date with regulatory disclosure and has an efficient way to issue new securities — similar to a pre-approved credit line — which can mean faster capital raises but also potential dilution of existing holdings.

shelf registration statement regulatory

"existing effective shelf registration statement on Form F-3"

A shelf registration statement is a document a company files with regulators that allows it to sell shares or bonds quickly when it’s a good time to raise money. It’s like having a pre-approved plan ready so the company can act fast without going through lengthy paperwork each time they want to sell, making fundraising more flexible.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

BEIJING, July 31, 2026 /PRNewswire/ -- Recon Technology, Ltd (NASDAQ: RCON) ("Recon" or the "Company"), a China-based independent solutions integrator in the oilfield service and environmental protection, electric power and coal chemical industries, today announced that it has entered into an At-the-Market ("ATM") Issuance Sales Agreement (the "Agreement") dated July 28, 2026, under which the Company may, from time to time during the term of the Agreement, offer and sell the Company's Class A ordinary shares (the "Shares"), par value $0.0001 per share, having an aggregate value of up to $100 million, to or through Pacific Century Securities, LLC (the "Sales Agent") as the Company's exclusive sales agent or principal.

Sales of Shares, if any, will be made at or related to then-prevailing market prices and, as a result, prices may vary. The volume and timing of sales under the ATM Program (the "ATM Program") will be determined at the Company's discretion. The Company expects to use any proceeds from the ATM Program for general corporate purposes, which include working capital, operating expenses, capital expenditures, potential acquisitions, business development activities, and other strategic initiatives in line with the Company's growth plans.

Pacific Century Securities, LLC is serving as the exclusive sales agent for the ATM Program. Kaufman & Canoles, P.C. is acting as U.S. counsel to the Company. McCarter & English, LLP is acting as U.S. counsel to the Sales Agent.

Under the Agreement, the Sales Agent may sell the Shares as the Company's exclusive sales agent or principal and by methods deemed to be an "at the market offering" as defined in Rule 415 promulgated under the Securities Act of 1933, as amended. The maximum offering amount in the ATM Program will be $100 million or the maximum offering dollar amount permitted under the Company's then current shelf registration capacity on the effective Registration Statement (defined below), whichever is lesser. In no event shall the aggregate number of Shares sold in the ATM Program exceed the number of the Company's authorized but unissued Class A ordinary shares.

The Shares will be offered under the Company's existing effective shelf registration statement on Form F-3 (No. 333-292540) (the "Registration Statement") filed with the U.S. Securities and Exchange Commission ("SEC"). A prospectus supplement dated July 28, 2026 related to the offering has been filed with the SEC. Any offer, solicitation or sale will be made only by means of the prospectus supplement and the accompanying prospectus. Electronic copies of the prospectus supplement and the accompanying prospectus may be obtained from the SEC's website at www.sec.gov or by contacting Pacific Century Securities, LLC, Attention: Syndicate Department, 747 3rd Ave, STE 2101, New York, NY 10017, by email at francis@pcsecurities.us. Current and potential investors should read the prospectus in the registration statement, and the prospectus supplement relating to the ATM Program and other documents the Company has filed with the SEC that are incorporated by reference in such prospectus supplement and the accompanying prospectus, which provide more complete information about the Company and the ATM Program.

This press release does not constitute an offer to sell or a solicitation of an offer to buy, nor may there be any sale of the Company's securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities law of any state or jurisdiction.

About Recon Technology, Ltd ("RCON")

Recon Technology, Ltd (NASDAQ: RCON) is the People's Republic of China's first NASDAQ-listed non-state owned oil and gas field service company. Recon supplies China's largest oil exploration companies, with advanced automated technologies, efficient gathering and transportation equipment and reservoir stimulation measure for increasing petroleum extraction levels, reducing impurities and lowering production costs. Through the years, RCON has taken leading positions within several segmented markets of the oil and gas field service industry. RCON also has developed stable long-term cooperation relationship with its major clients. For additional information please visit: http://www.recon.cn/. 

Forward-Looking Statements

Recon includes "forward-looking statements" within the meaning of the federal securities laws throughout this press release. A reader can identify forward-looking statements because they are not limited to historical fact or they use words such as "scheduled," "may," "will," "could," "should," "would," "expect," "believe," "anticipate," "project," "plan," "estimate," "forecast," "goal," "objective," "committed," "intend," "continue," or "will likely result," and similar expressions that concern Recon's strategy, plans, intentions or beliefs about future occurrences or results. Forward-looking statements are subject to risks, uncertainties and other factors that may change at any time and may cause actual results to differ materially from those that Recon expected. Many of these statements are derived from Recon's operating budgets and forecasts, which are based on many detailed assumptions that Recon believes are reasonable, or are based on various assumptions about certain plans, activities or events which we expect will or may occur in the future. However, it is very difficult to predict the effect of known factors, and Recon cannot anticipate all factors that could affect actual results that may be important to an investor. All forward-looking information should be evaluated in the context of these risks, uncertainties and other factors, including those factors disclosed under "Risk Factors" in Recon's most recent Annual Report on Form 20-F and any subsequent half-year financial filings on Form 6-K filed with the Securities and Exchange Commission. All forward-looking statements are qualified in their entirety by the cautionary statements that Recon makes from time to time in its SEC filings and public communications. Recon cannot assure the reader that it will realize the results or developments Recon anticipates, or, even if substantially realized, that they will result in the consequences or affect Recon or its operations in the way Recon expects. Forward-looking statements speak only as of the date made. Recon undertakes no obligation to update or revise any forward-looking statements to reflect events or circumstances arising after the date on which they were made, except as otherwise required by law. As a result of these risks and uncertainties, readers are cautioned not to place undue reliance on any forward-looking statements included herein or that may be made elsewhere from time to time by, or on behalf of, Recon.

View original content:https://www.prnewswire.com/news-releases/recon-technology-ltd-announces-100-million-at-the-market-equity-offering-program-302840063.html

SOURCE Recon Technology, Ltd

FAQ

What did Recon Technology (NASDAQ: RCON) announce on July 31, 2026 about a $100 million ATM offering?

Recon Technology announced an At-the-Market equity program authorizing sales of up to $100 million of Class A ordinary shares. According to Recon Technology, shares may be sold from time to time through Pacific Century Securities at prices related to prevailing market levels.

How large is the Recon Technology (RCON) At-the-Market offering and what limits apply?

The ATM program permits up to $100 million of Class A share sales. According to Recon Technology, issuance is additionally limited by the company’s then-current Form F-3 shelf registration capacity and the number of authorized but unissued Class A ordinary shares.

How will Recon Technology use proceeds from the $100 million ATM equity program?

Recon Technology plans to use ATM proceeds for general corporate purposes. According to Recon Technology, this includes working capital, operating expenses, capital expenditures, potential acquisitions, business development activities and other strategic initiatives aligned with the company’s growth plans.

Who is the sales agent for Recon Technology’s (RCON) At-the-Market equity offering?

Pacific Century Securities, LLC is the exclusive sales agent and may also act as principal. According to Recon Technology, Pacific Century Securities will sell shares in transactions deemed “at the market offerings” under SEC Rule 415, subject to the program’s size and capacity limits.

Under which SEC registration is Recon Technology’s $100 million ATM program being offered?

The ATM shares are offered under Recon Technology’s effective Form F-3 shelf registration statement No. 333-292540. According to Recon Technology, a prospectus supplement dated July 28, 2026, related to the ATM has been filed with the SEC and is available via the SEC’s website.

At what price will Recon Technology (RCON) shares be sold under the ATM program?

Shares will be sold at or related to then-prevailing market prices at the time of sale. According to Recon Technology, this means transaction prices may vary over time as market conditions change during the ATM program’s term.