STOCK TITAN

CL Workshop signs up to $200M at-the-market offering deal

The agreement lets NWGL set price, time or size limits in its sales instructions and does not obligate it to sell ADSs.

(Neutral)

Sentiment and the balance of points

Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.

Form Type
6-K

Rhea-AI Filing Summary

CL Workshop Group Ltd (NWGL) entered into an at-the-market sales agreement under which it may offer and sell ADSs for an aggregate offering amount of up to $200,000,000 through Chaince Securities, LLC as sales agent. Each ADS represents eight Class A ordinary shares. The company is not obligated to sell any ADSs.

NWGL intends to use net proceeds for working capital, general corporate purposes and new product development. It will pay the sales agent a 3.0% commission and a 1.0% non-accountable expense allowance, each based on aggregate gross proceeds from each sale.

Aggregate offering amount Up to $200,000,000 At-the-market sales agreement
ADS share ratio 8 Class A ordinary shares per ADS Each ADS represents this number of Class A ordinary shares
Sales agent commission 3.0% of aggregate gross proceeds For each sale of ADSs
Non-accountable expense allowance 1.0% of aggregate gross proceeds For each sale of ADSs
at the market offering financial
"deemed to be an “at the market offering” as defined by Rule 415(a)(4)"
An at-the-market offering is a way a company raises cash by selling newly issued shares directly into the open market at prevailing prices, rather than all at once in a single deal. Think of it like turning a faucet on to drip shares into trading at current prices when needed; it gives the company flexibility to raise funds over time but can dilute existing shareholders and potentially affect the stock price, which investors should monitor.
American Depositary Shares financial
"American Depositary Shares (the “ADSs”), each representing eight (8) Class A Ordinary Shares"
American depositary shares (ADSs) are a way for investors in the United States to buy shares of foreign companies without dealing with international markets directly. They represent ownership in a foreign company's stock and are traded on U.S. stock exchanges, making it easier for American investors to buy, sell, and own parts of companies from around the world.
non-accountable expense allowance financial
"a non-accountable expense allowance equal to 1.0% of the aggregate gross proceeds"
aggregate gross proceeds financial
"3.0% of the aggregate gross proceeds from each sale of ADSs"
Aggregate gross proceeds are the total amount of money a company expects to receive from a securities offering or financing before any fees, expenses or deductions are taken out. For investors, this number shows the scale of new capital entering the business—like the size of a fuel tank refill—and helps gauge how much cash will be available to pay debts, fund growth or dilute existing ownership.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What is the size of NWGL’s at-the-market offering?

NWGL may offer and sell ADSs for an aggregate offering amount of up to $200,000,000 through Chaince Securities, LLC. The company is not obligated to sell any ADSs.

What does each NWGL ADS represent?

Each ADS represents eight Class A ordinary shares of CL Workshop Group Ltd.

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

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Learn about SEC filing dates

 

 

 

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 UNDER

THE SECURITIES EXCHANGE ACT OF 1934

 

For the month of September 2026

 

Commission File Number: 001-41796

 

CL WORKSHOP GROUP LIMITED

 

Avenida da Amizade no. 1287

Chong Fok Centro Comercial, 13 E

Macau S.A.R.

(Address of principal executive offices)

 

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

 

 

 

 

 

 

On September 30, 2026, CL Workshop Group Limited (the “Company”) entered into an at-the-market sales agreement (the “Sales Agreement”) with Chaince Securities, LLC (the “Sales Agent”), acting as the Company’s sales agent, pursuant to which the Company may offer and sell, from time to time through the Sales Agent, American Depositary Shares (the “ADSs”), each representing eight (8) Class A Ordinary Shares, par value $0.001 per share (the “Class A Ordinary Shares”), of the Company, in an aggregate amount of up to $200,000,000.

 

The Company is not obligated to sell any ADS under the Sales Agreement. Subject to the terms and conditions of the Sales Agreement, the Sales Agent will use commercially reasonable efforts consistent with its normal trading and sales practices, applicable state and federal law, rules and regulations, and the rules of The Nasdaq Stock Market to sell ADSs from time to time based upon the Company’s instructions, including any price, time, or size limits specified by the Company. Upon delivery of a sales notice, and subject to the Company’s instructions in that notice, and the terms and conditions of the Sales Agreement generally, the Sales Agent may sell the ADSs by any method permitted by law deemed to be an “at the market offering” as defined by Rule 415(a)(4) promulgated under the Securities Act of 1933, as amended. The Company will pay the Sales Agent (i) a commission of 3.0% of the aggregate gross proceeds from each sale of ADSs, and (ii) a non-accountable expense allowance equal to 1.0% of the aggregate gross proceeds from each sale of ADSs for the fees and expenses of the Sales Agent’s legal counsel and other out-of-pocket expenses incurred by the Sales Agent in connection with the offering. The Company has also agreed to provide the Sales Agent with customary indemnification and contribution to the Sales Agent against certain liabilities, including liabilities under the Securities Act. The Sales Agreement also contains customary representations and warranties and conditions to the sale of the ADSs pursuant thereto.

 

The ADSs will be offered and sold pursuant to the prospectus supplement, dated September 30, 2026, and the accompanying base prospectus, under the Company’s registration statement on Form F-3 (Registration No. 333-297543), filed with the Securities and Exchange Commission on July 17, 2026 and declared effective on July 29, 2026 (the “Registration Statement”), for an aggregate offering amount of up to $200,000,000.

 

The Company intends to use the net proceeds from this offering for working capital and general corporate purposes and new product development.

 

The foregoing summary of the Sales Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Sales Agreement, which is attached as Exhibit 10.1 to the current report.

 

This Form 6-K is hereby incorporated by reference into the Registration Statement on Form F-3 (Registration No. 333-297543), the prospectus supplement relating to the offering of the ADSs and the Form S-8 (Registration No. 333-299186), to the extent not superseded by documents or reports subsequently filed or furnished by the Company under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended.

 

This Report on Form 6-K shall not constitute an offer to sell or the solicitation of an offer to buy the ADSs discussed herein, nor shall there be any offer, solicitation, or sale of securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

 

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EXHIBIT INDEX

 

Exhibit No.   Description
5.1   Legal Opinion of Ogier
10.1   Sales Agreement, dated September 30, 2026, by and between the Company and the Sales Agent
23.1   Consent of Ogier (included in Exhibit 5.1)

 

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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.

 

  CL Workshop Group Limited
     
Date: October 2, 2026    
  By: /s/ Liying Wang
  Name: Liying Wang
  Title: Director and Chief Executive Officer

 

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Filing Exhibits & Attachments

4 documents

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