Li Bang International (LBGJ) boosts at-the-market share program to $60M
Rhea-AI Filing Summary
Li Bang International Corporation Inc. has amended its agreement with AC Sunshine Securities to substantially increase its at-the-market stock offering capacity. The company can now sell Class A ordinary shares with an aggregate offering price of up to $60 million, up from $20 million under the original program, an increase of $40 million. As of April 1, 2026, shares with an aggregate offering price of $9.3 million had already been sold under this program. The company will pay the sales agent a 3.5% commission on gross proceeds and reimburse specified legal and transaction expenses. Net proceeds from future sales are intended for general corporate purposes, including working capital, capital expenditures, possible acquisitions and strategic investments.
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Key Figures
Upsized ATM capacity: $60,000,000 aggregate offering
Original ATM capacity: $20,000,000 aggregate offering
Increase in capacity: $40,000,000
+5 more
8 metrics
Upsized ATM capacity
$60,000,000 aggregate offering
Aggregate Class A ordinary share capacity under Upsized Offering Program
Original ATM capacity
$20,000,000 aggregate offering
Original Offering Program limit before Amendment No. 1
Increase in capacity
$40,000,000
Difference between upsized $60M and original $20M programs
Shares sold to date
$9,300,000 aggregate offering price
Class A Ordinary Shares sold as of April 1, 2026
Sales agent commission
3.5% of gross proceeds
Commission on any Class A Ordinary Shares sold
Initial counsel expense cap
$100,000
Maximum reimbursement for sales agent’s initial out-of-pocket expenses
Advanced expense amount
$65,000
Advanced to sales agent under January 9, 2026 engagement letter
Amendment counsel reimbursement
$25,000
Legal counsel expenses for Amendment No. 1 and first Placement Notice
Key Terms
at-the-market offering, shelf registration statement, Form F-3, prospectus supplement, +2 more
6 terms
at-the-market offering financial
"deemed to be an “at-the-market offering” as defined in Rule 415"
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.
shelf registration statement regulatory
"pursuant to the Company’s 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.
Form F-3 regulatory
"shelf registration statement on Form F-3 (File No. 333-291772)"
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.
prospectus supplement regulatory
"the prospectus supplement related to the Upsized Offering Program, dated June 11, 2026"
A prospectus supplement is an additional document provided alongside a company's main offering details, offering updated or extra information about a specific financial product being sold. It helps investors understand the latest terms, risks, and details of the investment, similar to how an update or revision clarifies or expands on original instructions, ensuring they have current and complete information before making a decision.
general corporate purposes financial
"use the net proceeds from any issuances through the Upsized Offering Program for general corporate purposes"
"General corporate purposes" refer to the broad range of activities and expenses a company can use its funds for to support its overall operations and growth. This can include things like paying bills, investing in new projects, or strengthening its financial position. For investors, understanding this term helps clarify how a company plans to use its resources to sustain and expand its business over time.
indemnification and contribution rights regulatory
"provided the Sales Agent with customary indemnification and contribution rights"
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What did Li Bang International (LBGJ) change in its at-the-market offering program?
Li Bang International increased its at-the-market stock offering capacity to an aggregate $60 million. This replaces a prior $20 million limit and allows the company to raise additional equity capital over time through AC Sunshine Securities as sales agent or principal.
How much has Li Bang International (LBGJ) sold under the at-the-market program so far?
As of April 1, 2026, Li Bang International had sold Class A ordinary shares with an aggregate offering price of $9.3 million. These shares were issued under the existing at-the-market program governed by the sales agreement with AC Sunshine Securities.
What fees will Li Bang International (LBGJ) pay to AC Sunshine Securities under the amended agreement?
Li Bang International will pay AC Sunshine Securities a 3.5% commission on gross proceeds from shares sold. It will also reimburse documented out-of-pocket expenses, including up to $100,000 for initial counsel fees, periodic maintenance amounts, refresh costs, and $25,000 related to Amendment No. 1.
How will Li Bang International (LBGJ) use proceeds from the upsized at-the-market program?
Li Bang International intends to use net proceeds from share issuances for general corporate purposes. These may include working capital, financing capital expenditures, future acquisitions, and strategic investment opportunities, though the company states it has no current specific plans or commitments.
When does Li Bang International’s (LBGJ) at-the-market offering program end?
The at-the-market program will end when all Class A ordinary shares subject to the sales agreement are sold or when the agreement is terminated according to its terms. The company is not obligated to sell any minimum amount of shares under the program.