STOCK TITAN

Fitness Champs (Nasdaq: FCHL) prices $5M best-efforts unit sale

(Neutral)
(Neutral)
Form Type
6-K

Rhea-AI Filing Summary

Fitness Champs Holdings Limited completed a best-efforts public unit offering raising approximately $5 million in gross proceeds. The company sold 3,225,000 units, each priced at $1.55 and consisting of one Class A ordinary share or a pre-funded warrant plus one warrant to buy a Class A share.

The warrants carry an exercise price of $2.635 per share, are exercisable immediately, and expire six months after issuance, with cashless exercise features and a zero exercise price option that may result in up to 48,375,000 shares in aggregate. Key shareholders and insiders agreed to a 90-day lock-up, and Univest Securities earned fees totaling 6% of gross proceeds plus up to $100,000 for expenses. The company plans to use net proceeds for research development, business expansion, working capital and other corporate purposes.

Positive

  • None.

Negative

  • None.

Insights

FCHL raises $5M via short-dated unit and warrant deal.

Fitness Champs Holdings Limited completed a best-efforts public unit offering generating gross proceeds of about $5 million. The structure combines equity and short-dated warrants: 3,225,000 units at $1.55 each, with one share (or pre-funded warrant) plus one warrant per unit.

The warrants have a $2.635 exercise price and a six-month term, with cashless exercise and a zero exercise price option that could issue up to 48,375,000 shares. Beneficial ownership limits between 4.99% and 9.99% cap individual holdings on pre-funded warrant exercise.

Univest Securities receives a 5% cash fee and 1% non-accountable allowance on gross proceeds, plus up to $100,000 of expenses, which modestly reduces net cash. A 90-day lock-up for the company, directors, officers and ≥5% holders temporarily restricts additional equity sales. Overall, this is a routine primary capital raise, and its impact will depend on how effectively proceeds support expansion and working capital.

Gross proceeds $5 million Aggregate gross proceeds from best-efforts public offering
Units sold 3,225,000 units Total units in offering, each with share/pre-funded warrant and warrant
Unit price $1.55 per unit Public offering price for each unit
Warrant exercise price $2.635 per share Exercise price for each warrant to buy a Class A share
Zero-price option cap 48,375,000 shares Maximum Class A shares issuable under all warrants’ zero exercise price option
Ownership cap 4.99% or 9.99% Beneficial ownership limits on pre-funded warrant exercises
Placement fees 6% of gross proceeds 5% cash fee plus 1% non-accountable allowance to placement agent
Lock-up period 90 days Lock-up on company, insiders and ≥5% holders after closing
best efforts public offering financial
"priced a best efforts public offering for the sale of units"
A best efforts public offering is a way a company sells new shares or bonds where the broker or bank agrees to try to sell as many securities as possible but does not promise to buy any unsold portion. Think of it like a salesperson taking items on consignment: they will work to sell them, but the seller bears the risk if some remain unsold. For investors, this matters because it can signal weaker demand and greater uncertainty about how many securities will actually be placed and how the price may move.
pre-funded warrant financial
"or in lieu thereof, a pre-funded warrant (each a “Pre-Funded Warrant”)"
A pre-funded warrant is a financial instrument that gives the holder the right to buy shares of a company's stock at a set price, with most of the purchase cost already paid upfront. It functions like a nearly fully paid option, allowing investors to secure shares quickly while minimizing the amount of additional money they need to invest later. This helps investors gain ownership rights efficiently, often used to avoid certain regulatory restrictions or to prepare for future stock purchases.
zero exercise price option financial
"holders of Warrants may effect a “zero exercise price option,” under which up to 48,375,000"
A zero exercise price option is a stock option that lets the holder convert the option into shares without paying any cash upfront because the strike price is set at zero. For investors, these awards act like immediate share grants: they increase the company’s outstanding shares (dilution), are treated as employee compensation for accounting and tax purposes, and signal how management is being paid, which can affect future earnings and shareholder value.
lock-up agreements financial
"entered into lock-up agreements. Under these agreements, these parties have agreed"
A lock-up agreement is a contract that prevents company insiders—founders, employees, and early investors—from selling their shares for a set period after a public stock offering. It matters to investors because it keeps a large block of shares off the market temporarily; when the lock-up ends, those holders can sell and this increased supply can cause the stock price to fall, similar to a timed release that suddenly opens a valve.
registration statement on Form F-1 regulatory
"pursuant to ... the Company’s registration statement on Form F-1 (File No. 333-294575)"
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.
forward-looking statements regulatory
"Certain statements in this announcement are forward-looking statements, including, but not limited to"
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.

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
Learn about SEC filing dates

FAQ

What did Fitness Champs Holdings (FCHL) announce in this Form 6-K?

Fitness Champs Holdings announced it priced and closed a best-efforts public unit offering, raising approximately $5 million in gross proceeds. The deal uses registered units combining Class A ordinary shares or pre-funded warrants with short-dated warrants to purchase additional Class A shares.

How large is the Fitness Champs Holdings (FCHL) offering and what was sold?

The company sold 3,225,000 units for expected gross proceeds of about $5 million. Each unit is priced at $1.55 and includes one Class A ordinary share, or a pre-funded warrant instead, plus one warrant to purchase an additional Class A ordinary share.

What are the key terms of the Fitness Champs Holdings (FCHL) warrants?

Each warrant lets the holder buy one Class A share at an exercise price of $2.635, exercisable from issuance until six months later. The warrants allow cashless exercise and a zero exercise price option that may result in up to 48,375,000 Class A shares being issued in aggregate.

What are pre-funded warrants in the FCHL offering and their limits?

Each pre-funded warrant is exercisable for one Class A share at an exercise price of $0.000075 per share after purchase. Holders generally cannot exercise if ownership would exceed 4.99% of outstanding Class A shares, with an optional cap increase up to 9.99% at the holder’s election.

How will Fitness Champs Holdings (FCHL) use the offering proceeds?

The company plans to use net proceeds for business expansion, general working capital and other general corporate purposes. It also references research development, indicating funds are intended to support growth initiatives and ongoing operations rather than a single specified acquisition or project.

What fees and lock-up terms apply in the Fitness Champs Holdings (FCHL) deal?

Univest Securities receives a 5% cash fee and a 1% non-accountable expense allowance on gross proceeds, plus up to $100,000 for additional expenses. The company, its directors, officers, and ≥5% shareholders agreed to a 90-day lock-up restricting most share sales after closing.

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 6-K

 

Report of Foreign Private Issuer

Pursuant to Rule 13a-16 or 15d-16 of

the Securities Exchange Act of 1934

 

For the month of April 2026

 

Commission File Number: 001-42823

 

Fitness Champs Holdings Limited

(Registrant’s name)

 

7030 Ang Mo Kio Street, Avenue 5, #04-48,

North Star@AMK, Singapore

(Address of principal executive offices)

 

Indicate by check mark whether the registrant files or will file Extraordinary reports under cover of Form 20-F or Form 40-F:

 

Form 20-F ☒   Form 40-F ☐

 

 

 

 

 

 

Pricing and Closing of Best Efforts Offering

 

On April 17, 2026, Fitness Champs Holdings Ltd. (the “Company”) priced a best efforts public offering for the sale of units as described below for aggregate gross proceeds to the Company of approximately $5 million, before deducting placement agent fees and other estimated expenses payable by the Company, excluding the exercise of any warrant offered. The offering was comprised of 3,225,000 units (each a “Unit”), consisting of one Class A ordinary share of the Company, par value $0.000075 per share (the “Class A Ordinary Shares”), or in lieu thereof, a pre-funded warrant (each a “Pre-Funded Warrant”), and one warrant to purchase one Class A Ordinary Share (each a “Warrant”). The public offering price of the Units was $1.55 per Unit.

 

Each of the Warrants will have an exercise price of $2.635 per Class A Ordinary Share and be exercisable beginning on the date of the issuance date and ending on the six-month anniversary of the issuance date. The Warrants include provisions for cashless exercise if, at the time of exercise, there is no effective registration statement for the issuance of the underlying Class A Ordinary Shares. The maximum number of Class A Ordinary Shares issuable upon cashless exercise is 3,225,000 for the Warrants. Additionally, holders of Warrants may effect a “zero exercise price option,” under which up to 48,375,000 Class A Ordinary Shares may be issuable in aggregate under all Warrants.

 

Subject to limited exceptions, a holder of Pre-Funded Warrants will not have the right to exercise any portion of its Pre-Funded Warrants if the holder, together with its affiliates, would beneficially own in excess of 4.99% (or, at the election of the holder, such limit may be increased to up to 9.99%) of the number of Class A Ordinary Shares outstanding immediately after giving effect to such exercise. Each Pre-Funded Warrant will be exercisable for one Class A Ordinary Share. The purchase price of each Pre-Funded Warrant will be equal to the price per share minus $0.000075, and the remaining exercise price of each Pre-Funded Warrant will equal $0.000075 per share. The Pre-Funded Warrants will be immediately exercisable (subject to the beneficial ownership limitation) and may be exercised at any time until all of the Pre-Funded Warrants are exercised in full. For each Pre-Funded Warrant we sell (without regard to any limitation on exercise set forth therein), the number of Class A Ordinary Shares we are offering will be decreased on a one-for-one basis.

 

The securities in the offering are being offered pursuant to a securities purchase agreement with certain investors (the “Securities Purchase Agreement”) and the Company’s registration statement on Form F-1 (File No. 333-294575), as amended, which was initially filed with the Securities and Exchange Commission (the “SEC”) March 24, 2026 and declared effective by the SEC on March 27, 2026.

 

On April 17, 2026, the Company entered into a placement agency agreement (the “Placement Agency Agreement”) with Univest Securities, LLC (the “Placement Agent”), pursuant to which the Placement Agent acted as sole placement agent for the offering and would receive at the closing of the offering a cash fee equal to 5% of the gross proceeds in the offering, a non-accountable expenses allowance of 1% of the gross proceeds of the offering and reimbursement for legal fees and other out-of-pocket fees, costs and expenses in the amount of up to $100,000.

 

Pursuant to the Securities Purchase Agreement and the Placement Agency Agreement, the Company, its directors, executive officers, and beneficial owners of 5% or more of our outstanding Class A Ordinary Shares entered into lock-up agreements. Under these agreements, these parties have agreed, subject to specified exceptions, not to offer, sell, contract to sell, hypothecate, pledge or otherwise dispose of any Class A Ordinary Shares or Class B ordinary shares, par value $0.000075 per share (the “Class B Ordinary Shares”) or securities convertible into, or exchangeable or exercisable for, our Class A Ordinary Shares or Class B Ordinary Shares for 90 days from the closing date of the offering without the prior consent of the Placement Agent.

 

On April 17, 2026, the Company issued a press release announcing the pricing of the offering.

 

The offering was closed on April 20, 2026. The Company intends to use the net proceeds from the offering for research development, business expansion, general working capital purposes and other general corporate purposes.

 

The foregoing summaries of the terms of each agreement mentioned above are subject to, and qualified in their entirety by, such documents.

 

This report does not constitute an offer to sell, or the solicitation of an offer to buy, 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.

 

EXHIBITS

 

4.1 Form of Pre-Funded Warrant
4.2 Form of Warrant
10.1 Form of Securities Purchase Agreement
10.2 Placement Agency Agreement, dated April 17, 2026
99.1 Press Release, dated April 17, 2026

 

2

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

  Fitness Champs Holdings Limited
     
Date: April 22, 2026 By: /s/ Joyce Lee Jue Hui
  Name:  Joyce Lee Jue Hui
  Title: Chief Executive Officer & Executive Director

 

3

 

Exhibit 99.1

 

Fitness Champs Holdings Limited Announces Pricing of $5 Million Public Offering

 

Singapore, April 17, 2026 (Global Newswire) – Fitness Champs Holdings Limited (“Fitness Champs Holdings,” “FCHL” or the “Company”) Nasdaq: FCHL) (the “Company”), a distinguished aquatic sports education provider in Singapore, today announced that it has priced a best-efforts public offering with gross proceeds to the Company expected to be approximately $5 million, before deducting placement agent fees and other estimated expenses payable by the Company, excluding the exercise of any warrant offered.

 

The offering is comprised of 3,225,000 units (each a “Unit”), consisting of one Class A ordinary share of the Company, par value $0.000075 per share (the “Class A Ordinary Shares”), or in lieu thereof, a pre-funded warrant, and one warrant to purchase one Class A Ordinary Share (each, a “Warrant”). The public offering price of the Units is $1.55 per Unit. Each of the Warrants will have an exercise price of $2.635 per Class A Ordinary Share and be exercisable beginning on the date of the issuance date and ending on the six-month anniversary of the issuance date.

 

The offering is expected to close on or about April 20, 2026, subject to satisfaction of customary closing conditions. The Company intends to use the net proceeds from this offering for business expansion, general working capital purposes and other general corporate purposes.

 

Univest Securities, LLC is acting as 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. 333-294575) previously filed and declared effective by the Securities and Exchange Commission (the “SEC”) on March 27, 2026. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, 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 written preliminary prospectus and final prospectus that will form a part of the registration statement. A final prospectus relating 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 relating to this offering may be obtained, when available, by contacting Univest Securities, LLC at info@univest.us, or by calling +1 (212) 343-8888.

 

About Fitness Champs Holdings Limited

 

Fitness Champs Holdings Limited is a distinguished aquatic sports education provider, offering general swimming lessons to children and adults, with ladies-only swimming lessons available, as well as aquatic sports classes such as water polo, competitive swimming and lifesaving. The Company is one of the largest providers of swimming lessons to children enrolled in public schools under the Ministry of Education of Singapore in Singapore through the SwimSafer program, and has been offering private swimming lessons to children, youths and adults under its brand “Fitness Champs” since 2012. The Company aims to make swimming an enjoyable and affordable sport for children and adults, for water safety and as a way of keeping fit and healthy. Fitness Champs also plans to grow into a diversified sports education provider by expanding its offerings to include other sports such as pickleball. For more information, please visit the Company’s website at https://ir.fitnesschamps.sg/.

 

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 current expectations and projections about future events and financial trends that the Company believes may affect its financial condition, results of operations, business strategy and financial needs, including the expectation that the offering will be closed. 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. 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 investor and media inquiries, please contact:

 

Email: ir@fitnesschampsaquatics.com

 

 

 

 

Filing Exhibits & Attachments

5 documents