STOCK TITAN

SU Group (NASDAQ: SUGP) cuts warrant price but keeps $29.9M on the table

(Neutral)
(Neutral)
Form Type
6-K

Rhea-AI Filing Summary

SU Group Holdings Ltd (SUGP) amended outstanding public-offering warrants to acquire its Class A ordinary shares. Warrants originally had a US$5.50 exercise price, which had been reduced to US$0.87 per share. After a 1-for-5 reverse share split effective August 6, 2026, the warrant exercise terms were mechanically adjusted.

Using pre-consolidation warrant balances as of August 10, 2026, the warrants represented 34,370,035 Warrant Shares at US$0.87, or potential cash exercise proceeds of about US$29.9 million. Under the amendments, the Exercise Price and Exercise Price Floor are each reduced to US$0.70 per share, and the warrants are now exercisable for approximately 42,717,043.50 Warrant Shares, preserving the same aggregate potential proceeds, subject to rounding and existing terms. Exercise is limited by available registration coverage for each holder, and any excess adjusted Warrant Shares remain outstanding but not exercisable until sufficient registration becomes effective. The amendments do not change the warrant Termination Date, and other terms remain in effect. The company’s board approved these changes after considering capital needs, market conditions, potential warrant exercise proceeds, and dilution.

Positive

  • None.

Negative

  • None.
Original Exercise Price US$5.50 per Class A ordinary share Exercise price of warrants issued with public offering completed on May 13, 2026
Reduced Exercise Price (pre-amendment) US$0.87 per Class A ordinary share Exercise price effective June 17, 2026 after initial reduction
Reverse Share Split Ratio 1-for-5 Reverse share split effective August 6, 2026 affecting warrant adjustments
Exercise Price after Reverse Split (before new amendment) US$4.35 per Class A ordinary share Adjusted Exercise Price and Exercise Price Floor after 1-for-5 reverse split
Pre-amendment Warrant Shares 34,370,035 Warrant Shares Aggregate pre-consolidation equivalent Warrant Share balances at US$0.87 per share as of August 10, 2026
Potential Cash Exercise Proceeds US$29,901,930.45 Aggregate potential cash exercise proceeds represented by warrants at US$0.87 per share and preserved at US$0.70
New Exercise Price and Exercise Price Floor US$0.70 per Class A ordinary share Exercise Price and Exercise Price Floor under Warrant Amendments
Post-amendment Warrant Shares 42,717,043.50 Warrant Shares Approximate aggregate Warrant Shares exercisable at US$0.70 per share after amendments
Exercise Price Floor financial
"the Exercise Price and Exercise Price Floor of the Warrants were adjusted"
reverse share split financial
"Following the Company’s 1-for-5 reverse share split effective August 6, 2026"
A reverse share split is when a company reduces the number of its shares outstanding by combining multiple shares into one, effectively increasing the price of each share. For investors, this can help improve the company's image or meet stock exchange listing requirements, but it does not change the total value of their investment. It’s similar to turning many small pieces of a puzzle into fewer larger pieces—nothing new is added or lost, just rearranged.
Warrant Shares financial
"the number of Warrant Shares then outstanding was proportionately adjusted"
Warrant shares are the company stock that can be issued when holders exercise warrants — contracts that give someone the right to buy shares at a set price. Think of a coupon that lets you buy a product later at today’s price; if the market price rises above that set price, the coupon gains value and new shares are created. Investors care because issuing warrant shares can change ownership percentages, raise cash for the company, and offer leveraged upside or extra dilution depending on how the market moves.
registration coverage regulatory
"in excess of the registration coverage then available to such holder"
incorporated by reference regulatory
"is hereby incorporated by reference into the Company’s Registration Statement"

FAQ

What key change to the warrants did SU Group Holdings Ltd (SUGP) make?

SU Group Holdings Ltd reduced the Exercise Price and Exercise Price Floor of certain outstanding warrants to US$0.70 per Class A ordinary share, from an effective pre-amendment level of US$0.87 per share, while preserving the same aggregate potential cash exercise proceeds.

How many Warrant Shares are now covered by the amended SUGP warrants?

After the amendments, the warrants are exercisable for approximately 42,717,043.50 Warrant Shares in total at an Exercise Price of US$0.70 per share, subject to rounding and the other terms of the warrants.

What is the total potential cash exercise proceeds from the amended SUGP warrants?

Based on the agreed pre-consolidation balances, the warrants represent aggregate potential cash exercise proceeds of approximately US$29,901,930.45, both before and after the amendment, with the exercise price change offset by an adjusted number of Warrant Shares.

How did the SUGP reverse share split affect the warrants before the latest amendment?

Following a 1-for-5 reverse share split effective August 6, 2026, the warrant Exercise Price and Exercise Price Floor were adjusted to US$4.35 per Class A ordinary share, and the number of Warrant Shares then outstanding was proportionately adjusted according to the warrant terms.

Are all amended SUGP Warrant Shares currently exercisable?

No. A holder may not exercise warrants to the extent the issuance would exceed that holder’s available registration coverage under an effective registration statement. Any adjusted Warrant Shares limited solely by this remain outstanding and become exercisable once sufficient registration coverage becomes effective.

Into which registration statement are these SUGP warrant amendments incorporated?

The information about the warrant amendments, including Exhibit 4.1, is incorporated by reference into SU Group Holdings Ltd’s Registration Statement on Form F-3 (File No. 333-284868), including the prospectuses contained in that registration statement.

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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 August 2026

Commission File Number: 001-41927

SU Group Holdings Limited

(Registrant’s Name)

7th Floor, The Rays

No. 71 Hung To Road, Kwun Tong

Kowloon, Hong Kong

(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 ☐

AMENDMENT OF OUTSTANDING WARRANTS

On August [●], 2026, SU Group Holdings Limited (the “Company”) entered into amendments (the “Warrant Amendments”) with the holders of certain outstanding purchase warrants to acquire Class A ordinary shares of the Company (the “Warrants”) originally issued in connection with the Company’s public offering completed on May 13, 2026.

The Warrants were originally issued with an exercise price of US$5.50 per Class A ordinary share. Effective June 17, 2026, the Company, with the requisite approval of the holders of the Warrants, reduced the exercise price of the Warrants to US$0.87 per Class A ordinary share. Following the Company’s 1-for-5 reverse share split effective August 6, 2026, the Exercise Price and Exercise Price Floor of the Warrants were adjusted to US$4.35 per Class A ordinary share and the number of Warrant Shares then outstanding was proportionately adjusted in accordance with the terms of the Warrants.

For purposes of the Warrant Amendments, the Company and the holders agreed to use the holder-specific pre-consolidation equivalent Warrant Share balances reflected in the Company’s warrant exercise records as of August 10, 2026. In the aggregate, those balances represented 34,370,035 Warrant Shares at an exercise price of US$0.87 per share, representing aggregate potential cash exercise proceeds of approximately US$29,901,930.45.

Pursuant to the Warrant Amendments, the Exercise Price and Exercise Price Floor of the Warrants were each reduced to US$0.70 per Class A ordinary share. In connection with that reduction, the number of Warrant Shares was adjusted on a holder-by-holder basis so that the aggregate exercise proceeds represented by each holder’s agreed pre-consolidation equivalent Warrant Share balance at US$0.87 per share are substantially preserved. The adjusted Warrant Share amount for each holder is calculated by multiplying the applicable pre-consolidation equivalent Warrant Share balance by US$0.87 and dividing the resulting aggregate exercise proceeds by US$0.70. Applying this methodology, the Warrants are exercisable for approximately 42,717,043.50 Warrant Shares in the aggregate at an Exercise Price of US$0.70 per share, representing aggregate potential cash exercise proceeds of approximately US$29,901,930.45, subject to rounding and the other terms of the Warrants.

The Warrant Amendments acknowledge that the adjusted Warrant Shares are determined by the foregoing economic-preservation mechanic and are not limited to the number of Class A ordinary shares currently covered for resale by the applicable holder under the Company’s existing effective registration statements. Unless the Company and the applicable holder otherwise agree in writing, a holder may not exercise its Warrant, and the Company is not required to issue Warrant Shares upon exercise, to the extent such exercise and issuance would result in Warrant Shares being issued in excess of the registration coverage then available to such holder under an effective registration statement, as determined by the Company in good faith. Any adjusted Warrant Shares that are not then exercisable solely as a result of this limitation remain outstanding under the applicable Warrant and become exercisable when and to the extent sufficient registration coverage becomes effective.

  

 

The Warrant Amendments do not modify the Termination Date of the Warrants. Except for the adjustments expressly effected by the Warrant Amendments, including the adjustments to the Exercise Price, Exercise Price Floor and number of Warrant Shares, the remaining terms of the Warrants remain unchanged and in full force and effect.

The Company’s board of directors approved the Warrant Amendments after considering, among other things, the Company’s capital requirements, prevailing market conditions, the trading price and volume of the Company’s Class A ordinary shares, the potential opportunity to generate additional capital through exercises of the Warrants, the preservation of the aggregate exercise proceeds represented by the remaining Warrants and the potential dilution resulting from the increase in Warrant Shares.

There can be no assurance that any holder will exercise any Warrants or that the Company will receive any proceeds from exercises of the Warrants.

The foregoing description of the Warrant Amendments does not purport to be complete and is qualified in its entirety by reference to the form of Warrant Amendment furnished as Exhibit 4.1 to this Report on Form 6-K.

INCORPORATION BY REFERENCE

The information contained in this Report on Form 6-K, including Exhibit 4.1 hereto, is hereby incorporated by reference into the Company’s Registration Statement on Form F-3 (File No. 333-284868), including the prospectuses contained therein, and shall be deemed to be a part thereof from the date on which this Report on Form 6-K is furnished, to the extent not superseded by documents or reports subsequently filed or furnished.

EXHIBIT INDEX

Exhibit No. Description of Exhibit
4.1 Form of Amendment to Purchase Warrant

 

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.

    SU GROUP HOLDINGS LIMITED
     
Date: August 21, 2026 By: /s/ Chan Ming Dave
    Chan Ming Dave
    Chief Executive Officer

 

  

 

 

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