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Star Fashion Culture closes sale of 12M shares

The Form F-1 registration statement for the offering was declared effective on September 24, 2026, before the offering closed.

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Form Type
6-K

Rhea-AI Filing Summary

Star Fashion Culture Holdings Ltd (STFS) closed a best-efforts follow-on public offering of 12,000,000 Class A ordinary shares at $0.80 per share on September 28, 2026. Gross proceeds, before placement-agent fees and other offering expenses, are expected to be approximately $9,600,000.

The company paid placement agent Kingswood Capital Partners, LLC a cash fee equal to 6.5% of gross proceeds and reimbursed certain expenses, including a non-accountable expense of 0.6% of gross proceeds. STFS intends to use net proceeds to develop its online marketing services and for general administration and working capital. The Form F-1 registration statement was declared effective on September 24, 2026.

Class A ordinary shares offered 12,000,000 shares Best-efforts follow-on public offering closed September 28, 2026
Public offering price $0.80 per Class A ordinary share Offering closed September 28, 2026
Gross proceeds Expected approximately $9,600,000 Before placement-agent fees and other offering expenses
Placement-agent cash fee 6.5% of gross proceeds Paid to Kingswood Capital Partners, LLC
Non-accountable expense 0.6% of gross proceeds Included among certain reimbursed expenses
best-efforts follow-on public offering financial
"best-efforts follow-on public offering"
placement agent financial
"Kingswood Capital Partners, LLC as the placement agent"
A placement agent is a professional or firm that helps organizations raise money from investors, such as individuals, institutions, or funds. They act like matchmakers, connecting those seeking investments with the right investors and guiding the process to ensure successful funding. For investors, they can provide access to exclusive opportunities and help navigate complex fundraising efforts.
gross proceeds financial
"Gross proceeds, before deducting placement agent fees"
The total amount of cash a company receives from a financing event or sale before any fees, expenses, taxes or deductions are taken out. Investors watch gross proceeds because it shows the raw scale of new capital being raised—think of it as the paycheck amount before withholdings—which helps assess how much funding is available for operations, growth, debt payoff or how much shareholder dilution might occur once costs are removed.
non-accountable expense financial
"including a non-accountable expense of 0.6%"

FAQ

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

How many shares did STFS sell in its September 2026 offering?

STFS closed its offering of 12,000,000 Class A ordinary shares at $0.80 per share on September 28, 2026. Gross proceeds, before placement-agent fees and other offering expenses, are expected to be approximately $9,600,000.

What placement-agent fees did STFS disclose?

Kingswood Capital Partners, LLC received a cash fee equal to 6.5% of gross proceeds. STFS also reimbursed certain expenses, including a non-accountable expense of 0.6% of gross proceeds.

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: 001-42362

 

STAR FASHION CULTURE HOLDINGS LIMITED

 

(Registrant’s Name)

 

12F, No.611, Sishui Road

Huli District,

Xiamen

People’s Republic of China

(Address of Principal Executive Offices)

 

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

 

Form 20-F ☒       Form 40-F ☐

 

 

 

 

 

INFORMATION CONTAINED IN THIS FORM 6-K REPORT

 

Entry into Material Agreement

 

As reported in Star Fashion Culture Holdings Limited (the “Company”) Current Report on Form 6-K originally filed with the U.S. Securities and Exchange Commission (the “SEC”) on September 25, 2026 (the “Prior 6-K”), the Company entered into Securities Purchase Agreements (the “Securities Purchase Agreements”) with several investors named therein (the “Purchasers”), pursuant to which the Company agreed to issue and sell, in a best effort offering (the “Offering”), a total of 12,000,000 Class A Ordinary Shares of par value $0.0004 per share (the “Class A Ordinary Shares”) at the price of $0.80 per Class A Ordinary Share. The Securities Purchase Agreement contains customary representations and warranties and agreements of the Company and the Purchasers and includes customary indemnification rights and obligations of the parties.

 

The Offering was closed on September 28, 2026.

 

The Class A Ordinary Shares were offered pursuant to a registration statement on Form F-1, as amended (Registration No. 333-298981, “Form F-1”) originally filed with the SEC on September 17, 2026. The Form F-1 was declared effective on September 24, 2026 and the final prospectus was filed on September 25, 2026.

 

The Company engaged Kingswood Capital Partners, LLC (“Kingswood”) as the placement agent (the “Placement Agent”) in the Offering pursuant to a Placement Agency Agreement dated September 25, 2026, by and between the Company and the Placement Agent. The Company paid Kingswood a cash fee equal to 6.5% of the gross proceeds raised in the Offering and reimbursed the Placement Agents for certain expenses (including a non-accountable expense of 0.6% of the gross proceeds of the Offering). The Placement Agency Agreement contains customary conditions to closing, representations and warranties of the Company, and termination rights of the parties, as well as certain indemnification obligations of the Company and ongoing covenants for the Company.

 

The Company intends to use the net proceeds of this offering for developing its online marketing services and for general administration and working capital.

 

The foregoing description of the Placement Agency Agreement and the Securities Purchase Agreements qualified in their entirety by reference to the form of the Placement Agency Agreement and the form of Securities Purchase Agreements, which were filed thereto as Exhibit 10.1 and 10.2, respectively, to the Prior Form 6-K, and which are incorporated herein in their entirety by reference. For more information about the terms of the Securities Purchase Agreement, the Placement Agent Agreement, please see the Prior Form 6-K.

 

On September 25, 2026, the Company issued a press release announcing the pricing of the Offering (the “Pricing Press Release”). A copy of the Pricing Press Release, which was filed as Exhibit 99.1 of the Prior Form 6-K, is incorporated herein in its entirety by reference. For more information about the pricing press release, please see the Prior Form 6-K.

 

On September 28, 2026, the Company issued a press release announcing the closing of the Offering. A copy of the press release announcing the closing of the Offering is furnished as Exhibit 99.1 hereto.

 

 This Report contains forward-looking statements. Forward-looking statements include, but are not limited to, statements that express our intentions, beliefs, expectations, strategies, predictions or any other statements related to our future activities, future events or conditions. These statements are based on current expectations, estimates and projections about the Company’s business based, in part, on assumptions made by management. These statements are not guarantees of future performances and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in the forward-looking statements due to numerous factors, including those risks discussed in the Registration Statement, and in other documents the Company files from time to time with the Commission. Any forward-looking statements speak only by the date on which they are made, and the Company undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this Report, except as required by law.

 

1

 

Financial Statements and Exhibits.

 

The following exhibits are being filed herewith:

 

Exhibit No.   Description
99.1   Press Release, dated September 28, 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.

 

  Star Fashion Culture Holdings Limited
     
Date: September 28, 2026 By: /s/ Liu Xiaohua
  Name:  Liu Xiaohua
  Title: Chief Executive Officer and Director

 

3

 

Exhibit 99.1

 

Star Fashion Culture Holdings Limited Announces Closing of Approximately US$9,600,000 Public Offering of Class A Ordinary Shares

 

XIAMEN, Sept. 28, 2026 (GLOBE NEWSWIRE) -- STAR FASHION CULTURE HOLDINGS LIMITED (NASDAQ: STFS) (the “Company” or “STFS”) today announced the Closing of its best-efforts follow-on public offering on September 28, 2026 of 12,000,000 Class A ordinary shares at a public offering price of $0.80 per Class A ordinary share (the “Offering”).

 

Gross proceeds, before deducting placement agent fees and other offering expenses, are expected to be approximately $9,600,000. The Company intends to use the net proceeds of this offering for developing its online marketing services and for general administration and working capital.

 

Kingswood Capital Partners, LLC acted as the placement agent (the “Placement Agents”) in connection with this Offering.

 

The securities described above were offered pursuant to a registration statement on Form F-1, as amended (File No. 333- 298981) (the “Registration Statement”), which was declared effective by the Securities and Exchange Commission (the “SEC”) on September 24, 2026. The Offering was made only by means of a prospectus which was a part of the Registration Statement. Before you invest, you should read the prospectus and other documents the Company has filed or will file with the SEC for more information about the Company and the Offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Electronic copies of the final prospectus may be obtained, when available, from Kingswood Capital Partners, LLC 7280 W Palmetto Park Rd. Suite 301, Boca Raton, FL 33433, or by email at lciervo@kingswoodus.com, or by telephone at +1-800-535-6981.

 

This press release has been prepared for informational purposes only and shall not constitute an offer to sell or the solicitation of an offer to buy any securities, and no sale of these securities may be made in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.

 

Forward-Looking Statements

 

Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “is/are likely to,” “potential,” “continue” 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, which are available for review at www.sec.gov.

 

 

 

About STAR FASHION CULTURE HOLDINGS LIMITED

 

STAR FASHION CULTURE HOLDINGS LIMITED (the “Company”) is a content marketing solutions services provider with a mission to offer high-quality diversified services. We offer services focusing on (i) marketing campaign planning and execution; (ii) offline advertising services; and (iii) online precision marketing services. We assist customers in enhancing the effectiveness of their marketing activities and the value of their brand and products through our variety of services offered. The Company first began operations in August 11, 2015 through its operating subsidiary, Xiamen Star Fashion Culture Media Co., Ltd.

 

For enquiry, please contact:

 

STAR FASHION CULTURE HOLDINGS LIMITED

12F, No.611, Sishui Road

Huli District,

Xiamen

People’s Republic of China

Tel: +86 13063138565

 

 

 

Filing Exhibits & Attachments

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