Here are the 424B prospectus supplements from DDC Enterprise Limited (DDC) in our archive over the last 12 months, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 424B covers the supplement that carries the terms of a priced offering, so if you follow DDC and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full DDC filings page.
DDC Enterprise Limited is conducting an underwritten offering of DDC SAVOR 13.5% Perpetual Preferred Series A Shares. The shares have a $25.00 stated value and cumulative cash dividends at 13.5% annually ($3.375 per share annually), accruing daily and payable each business day subject to applicable law and legally available funds. They have no maturity or conversion rights and provide Bitcoin-price-triggered bonus dividends of up to $4.00 per share.
Separately, investors have agreed to buy 1,200,000 shares in a concurrent registered direct offering at $20.00 per share, for $24,000,000 in gross proceeds, subject to the purchase agreement. The underwritten offering's closing depends on the direct offering closing and evidence of receipt of its gross proceeds; the direct offering also requires the sale of at least 200,000 shares in the underwritten offering. NYSE American listing approval is a closing condition; if approved, trading is expected within 30 days after first issuance.
Proceeds are intended for Dividend Reserve Account deposits and general corporate purposes, including bitcoin acquisitions and potential merger and acquisition activity. At the Company's sole discretion, up to 20% of gross proceeds may be used to repay, redeem, or otherwise discharge Convertible Notes issued and issuable to the Anson Parties. The shares rank senior to ordinary shares but junior to indebtedness, and have limited voting and specified event-based redemption rights.
DDC Enterprise Limited is offering not less than 1,200,000 Series A 13.5% Perpetual Cumulative Preferred Shares at $20.00 per share, for gross proceeds of not less than $24,000,000 before discounts, commissions and expenses. Closing is conditioned on this minimum, an underwriting agreement for at least 200,000 shares in the concurrent public offering, and this offering’s price not exceeding that offering’s price.
The shares have a $25.00 stated value and accumulate cash dividends at 13.5% annually, equal to $3.375 per share annually, payable each business day subject to applicable law and legally available funds. DDC expects to fund cash dividends primarily through additional capital raising. Bitcoin price triggers may qualify holders for one-time bonus dividends totaling up to $4.00 per share. The shares are perpetual, non-convertible, junior to DDC’s indebtedness and structurally junior to subsidiary liabilities.
Across both offerings, DDC intends to use proceeds for the Dividend Reserve Account and general corporate purposes, including Bitcoin purchases and potential acquisitions; at its discretion, up to 20% of gross proceeds may repay or discharge Convertible Notes. A separate underwritten offering covers at least 200,000 shares. No public market currently exists; DDC has applied to list the shares on NYSE American, with trading expected within 30 days of first issuance if approved.
DDC Enterprise Limited has registered up to 12,100,000 Class A Ordinary Shares for resale by existing shareholders. The company itself is not selling shares and will receive no proceeds; all sale proceeds go to the selling shareholders.
As of this prospectus, 22,660,530 Class A Ordinary Shares and 1,750,000 Class B Ordinary Shares are outstanding. DDC has a dual-class structure where Class B shares carry ten votes per share and are held only by CEO Norma Chu, concentrating voting power.
DDC is a Cayman Islands holding company operating mainly in China through subsidiaries, focused on ready-to-heat, ready-to-cook, ready-to-eat and plant-based meals, plus advertising services. It has also adopted a bitcoin treasury strategy and currently holds 1,083 bitcoins at an average purchase price of $108,726 per bitcoin.
The prospectus highlights significant risks from doing business in China and Hong Kong, evolving PRC data and cybersecurity rules, HFCAA-related audit oversight risks, bitcoin price volatility, and the potential for future dilution and trading volatility in its Class A shares.
DDC Enterprise Limited is registering 159,106 Class A Ordinary Shares for resale by a single selling shareholder. This includes 59,106 Class A shares already issued under a US$185,000 equity settlement at US$3.13 per share and an estimated 100,000 additional “True-up Shares” that may be issued if resale proceeds fall below US$185,000. DDC will not sell any shares or receive proceeds from these resales, though it has already received the settlement consideration.
Class A Ordinary Shares carry one vote each and Class B Ordinary Shares carry ten votes each. As of the prospectus date, 22,782,958 Class A Ordinary Shares and 1,750,000 Class B Ordinary Shares were outstanding, with all Class B shares held by the CEO. The Cayman holding company operates primarily through PRC subsidiaries and has adopted a bitcoin treasury strategy; it holds 1,383 bitcoins at an average purchase price of US$88,998 per bitcoin. The prospectus highlights significant risks tied to its food business, China regulatory environment, bitcoin holdings and evolving U.S. audit oversight rules.