SKK Holdings (NASDAQ: SKK) completes USDT-funded $3.43M stock sale
Rhea-AI Filing Summary
SKK Holdings Limited (SKK) completed a registered direct offering of equity. The company entered into Securities Purchase Agreements with investors to sell an aggregate of 770,000 Class A Ordinary Shares at US$4.46 per share, using its effective Form F-3 shelf registration statement and an August 12, 2026 prospectus supplement. Closing occurred on August 17, 2026, with aggregate gross proceeds of US$3,434,200, based on the U.S. dollar value of Tether (USDT) received.
Investors paid in USDT, valued in U.S. dollars using Coinbase’s price as of August 11, 2026. SKK intends to hold the USDT and may convert some or all into U.S. dollars or other fiat currencies for working capital and general corporate purposes. After the offering, SKK had 2,875,332 Class A and 1,085,264 Class B Ordinary Shares issued and outstanding. Cayman counsel Conyers Dill & Pearman issued a validity opinion on the shares.
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Key Figures
Shares Offered: 770,000 Class A Ordinary Shares
Purchase Price per Share: US$4.46 per share
Gross Proceeds: US$3,434,200
+3 more
6 metrics
Shares Offered
770,000 Class A Ordinary Shares
Aggregate number of Class A Ordinary Shares sold in the registered direct offering
Purchase Price per Share
US$4.46 per share
Agreed purchase price for each Class A Ordinary Share in the offering
Gross Proceeds
US$3,434,200
Aggregate gross proceeds based on U.S. dollar value of USDT received
Class A Shares Outstanding
2,875,332 shares
Total Class A Ordinary Shares issued and outstanding after the offering
Class B Shares Outstanding
1,085,264 shares
Total Class B Ordinary Shares issued and outstanding after the offering
USDT Valuation Date
August 11, 2026
Date of Coinbase price used to value USDT in U.S. dollars
Key Terms
registered direct offering, shelf registration statement, Tether (USDT), prospectus supplement, +1 more
5 terms
registered direct offering financial
"agreed to purchase, in a registered direct offering (the “Offering”)"
A registered direct offering is a way for a company to sell new shares of its stock directly to select investors with regulatory approval. This method allows the company to raise funds quickly and efficiently without needing a public auction, similar to offering exclusive access to a limited number of buyers. For investors, it often provides an opportunity to purchase shares at a favorable price, while giving the company immediate access to capital.
shelf registration statement regulatory
"pursuant to the Company’s 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.
Tether (USDT) financial
"The Investors paid their respective purchase prices in Tether (“USDT”)."
prospectus supplement regulatory
"as supplemented by a prospectus supplement dated August 12, 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.
working capital and general corporate purposes financial
"convert all or a portion thereof into U.S. dollars or other fiat currency for working capital and general corporate purposes"
FAQ
What equity offering did SKK (SKK) complete in August 2026?
SKK completed a registered direct offering of 770,000 Class A Ordinary Shares at US$4.46 per share, under its Form F-3 shelf registration, closing on August 17, 2026.
How much capital did SKK (SKK) raise in this registered direct offering?
SKK received aggregate gross proceeds of US$3,434,200 from selling 770,000 Class A Ordinary Shares. This figure is based on the U.S. dollar value of USDT received in the transaction.
How does SKK (SKK) plan to use the proceeds from the USDT received?
SKK intends to hold the USDT received and may convert all or a portion into U.S. dollars or other fiat currency for working capital and general corporate purposes.
Under which registration statements is this SKK (SKK) report incorporated by reference?
The report is incorporated by reference into SKK’s Form F-3 registration statement (File No. 333-295547) and Form S-8 registration statement (File No. 333-297943).
AI-generated analysis. How Rhea-AI works. Not financial advice.
