STOCK TITAN

WF Holding (WFF) secures $30M standby equity share facility over 24 months

(Neutral)
(Neutral)
Form Type
6-K

Rhea-AI Filing Summary

WF Holding Limited entered a standby equity purchase agreement with an institutional investor, allowing sales of up to $30,000,000 of ordinary shares over 24 months under an effective Form F-3 shelf. As consideration for this commitment, the company will issue 750,000 ordinary shares to the investor.

The company may, at its discretion, direct the investor to purchase between $100,000 and $3,000,000 of shares on selected trading days, provided the closing price is at least $0.10 and subject to a 9.99% beneficial ownership limitation. The purchase price per share will be the lower of $1.01 (50% of the closing price on the agreement date) or 50% of the lowest closing price during the prior 180 trading days, in each case subject to the $0.10 floor. Univest Securities, LLC will act as exclusive placement agent, earning a 5% cash fee on gross proceeds, up to $50,000 of expense reimbursement, and a 12‑month right of first refusal for specified investment banking services.

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Filing Explained

As of the July 31 filing, the 30 million dollar facility had produced no disclosed sales, while 750,000 shares were committed to the investor.

As a Form 6-K, this report furnishes interim material information. The company entered the agreement on July 30, but the filing does not report completed sales under it; the agreed issuance of 750,000 ordinary shares would increase the share count and reduce existing holders’ percentage ownership absent offsetting changes.

The $30,000,000 amount is a maximum purchase commitment, not cash already received or proceeds realized. The filing states that sales cannot commence until the agreement’s conditions are satisfied and that actual sales depend on the company’s later funding decisions and market conditions.

A later disclosure of a purchase request or completed sale would establish that the facility has been used; until then, the disclosed amount remains available capacity rather than realized financing.

Standby equity commitment $30,000,000 Maximum aggregate amount of ordinary shares the investor may purchase
Commitment fee shares 750,000 shares Ordinary shares issued to investor as consideration for the commitment
Per-draw minimum purchase $100,000 Minimum amount of ordinary shares per trading day purchase request
Per-draw maximum purchase $3,000,000 Maximum amount of ordinary shares per trading day purchase request
Purchase price cap $1.01 Upper price, equal to 50% of the closing price on the agreement date
Price floor $0.10 Minimum allowed per-share price for sales under the agreement
Beneficial ownership cap 9.99% Maximum percentage of outstanding ordinary shares the investor may beneficially own
Placement agent cash fee 5% Percentage of aggregate gross proceeds payable to Univest Securities, LLC
Expense reimbursement cap $50,000 Maximum reimbursable travel, out-of-pocket, and legal expenses for the placement agent
Agreement term 24 months Period during which the company may direct purchases under the agreement
standby equity purchase agreement financial
"entered into a standby equity purchase agreement with an institutional investor"
A standby equity purchase agreement is a contract in which an investor or group agrees to buy a company’s newly issued shares on demand, giving the company a ready source of cash it can tap when needed. Think of it like a line of credit made with stock instead of a loan: it provides financial backup but can increase the number of shares outstanding, diluting existing owners and affecting per‑share value, so investors watch these deals for their impact on ownership and earnings per share.
Shelf Registration Statement regulatory
"offered by the Company pursuant to an 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.
Prospectus Supplement regulatory
"including that the Prospectus Supplement has been filed with the Securities and Exchange Commission"
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.
beneficial ownership limitation financial
"subject to a beneficial ownership limitation equal to 9.99% of the ordinary shares outstanding"
A beneficial ownership limitation is a rule that caps the percentage of a company’s shares an investor can be treated as owning or controlling for voting, regulatory or tax purposes. It matters to investors because it can restrict how many shares a person or group can buy or vote, affect takeover chances, and influence share liquidity and value — like a speed limit that prevents any single driver from taking over the whole road.
right of first refusal financial
"grant the Placement Agent, for a period of twelve months, a right of first refusal"
A right of first refusal gives an existing shareholder or party the chance to buy an asset or shares before the owner can sell them to someone else. Think of it like being offered the first option to buy a house when the owner decides to sell; it matters to investors because it can limit who can acquire a stake, slow or block transactions, and affect the price and liquidity of an investment by restricting open-market sales or new buyers.
FINRA Rule 5110 regulatory
"subject to compliance with FINRA Rule 5110 and its termination for cause provisions"

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FAQ

What is the size of WF Holding (WFF)'s new standby equity facility?

WF Holding entered a standby equity purchase agreement for up to $30,000,000 of ordinary shares. The company can draw on this commitment over 24 months, using an effective Form F-3 shelf registration and a filed prospectus supplement.

On what terms can WF Holding (WFF) sell shares under the standby equity deal?

WF Holding may require purchases between $100,000 and $3,000,000 per selected trading day. Each sale requires a closing price of at least $0.10 and remains subject to a 9.99% beneficial ownership limitation for the investor.

How is the share purchase price determined in WF Holding (WFF)'s agreement?

The purchase price is the lower of $1.01 or 50% of the lowest closing price over the prior 180 trading days, in each case subject to a $0.10 floor. The $1.01 cap equals 50% of the closing price on the agreement date.

What compensation does the placement agent receive in WF Holding (WFF)'s transaction?

Univest Securities, LLC earns a 5% cash fee on aggregate gross proceeds raised under the agreement and reimbursement of expenses up to $50,000. It also receives a 12‑month right of first refusal for certain future investment banking services.

What shares does WF Holding (WFF) issue upfront in connection with the equity facility?

WF Holding will issue 750,000 ordinary shares to the institutional investor as consideration for its $30,000,000 standby equity commitment. These shares are separate from any shares later sold under individual purchase requests.

How long does WF Holding (WFF)'s standby equity purchase agreement remain in effect?

The agreement runs for 24 months from the date of signing, with automatic termination on the first day of the month after this anniversary or once the full $30,000,000 has been purchased, unless ended earlier by mutual agreement.

 

 

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: July 2026

 

Commission File Number: 001-42566 

 

WF HOLDING LIMITED
(Translation of registrant’s name into English)

 

Lot 3893, Jalan 4D

Kg. Baru Subang

Seksyen U6, 40150 Shah Alam, Selangor, Malaysia
60-378471828
(Address of principal executive office)

 

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 ☐

 

 

 

 

 

Entry into a Material Definitive Agreement

 

On July 30, 2026, WF Holding Limited (the “Company”) entered into a standby equity purchase agreement (the “Purchase Agreement”) with an institutional investor (the “Investor”), pursuant to which the Investor has agreed to purchase up to an aggregate of $30,000,000 of the Company’s ordinary shares (the “Commitment Amount”) from time to time over the term of the Purchase Agreement.

 

In consideration for the Investor’s commitment to purchase ordinary shares under the Purchase Agreement, the Company has agreed to issue 750,000 ordinary shares to the Investor.

 

Under the terms and subject to the conditions of the Purchase Agreement, the Company has the right, but not the obligation, to sell to the Investor, and the Investor is obligated to purchase, ordinary shares in an amount of up to the Commitment Amount. Sales under the Purchase Agreement will not commence until all of the conditions set forth in the Purchase Agreement have been satisfied, including that the Prospectus Supplement (as defined below) has been filed with the Securities and Exchange Commission (the “SEC”). Thereafter, the Company may, from time to time and at its sole discretion, for a period of twenty-four (24) months from the date of the Purchase Agreement, on any trading day that it selects, provided that the closing price of the ordinary shares is equal to or greater than $0.10, direct the Investor to purchase a minimum of $100,000 and up to a maximum of $3,000,000 of the Company’s ordinary shares, subject to a beneficial ownership limitation equal to 9.99% of the ordinary shares outstanding from time to time.

 

The Company will control the timing and amount of any sales of ordinary shares to the Investor. The purchase price of the ordinary shares that may be sold to the Investor under the Purchase Agreement will be equal to the lower of (i) $1.01 (equal to 50% of the closing price of the ordinary shares on the Nasdaq Capital Market on the date of the Purchase Agreement) and (ii) 50% of the lowest closing price of the ordinary shares on the Nasdaq Capital Market during the one hundred and eighty (180) trading days immediately preceding the applicable purchase request date, in each case subject to a floor price of $0.10 (subject to adjustment in the event of a share split, share dividend, recapitalization, reorganization or similar transaction).

 

The Purchase Agreement contains customary representations and warranties, covenants and closing conditions. The Purchase Agreement will automatically terminate on the earliest of (i) the first day of the month next following the 24-month anniversary of the date of the Purchase Agreement or (ii) the date on which the Investor shall have purchased ordinary shares equal to the Commitment Amount. The Purchase Agreement may also be terminated by mutual agreement of the parties. Neither party may assign or transfer its rights and obligations under the Purchase Agreement.

 

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The ordinary shares issuable to the Investor are being offered by the Company pursuant to an effective shelf registration statement on Form F-3 (File No. 333-296397) (the “Shelf Registration Statement”), which became effective on June 10, 2026, and pursuant to a prospectus supplement filed with the SEC (the “Prospectus Supplement”).  

 

Actual sales of ordinary shares to the Investor will depend on a variety of factors to be determined by the Company from time to time, including, among others, market conditions, the trading price of the ordinary shares and determinations by the Company as to the appropriate sources of funding for the Company and its operations.  

 

This report on Form 6-K shall not constitute an offer to sell or a solicitation of an offer to buy any ordinary shares, nor shall there by any sale of ordinary shares in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.

 

In connection with the foregoing transactions, on July 30, 2026, the Company entered into a placement agency agreement (the “Placement Agency Agreement”) with Univest Securities, LLC (the “Placement Agent”), pursuant to which the Placement Agent agreed to act as the Company’s exclusive placement agent in connection with the Purchase Agreement. Pursuant to the Placement Agency Agreement, the Placement Agent is entitled to (i) a cash fee equal to five percent (5%) of the aggregate gross proceeds received under the Purchase Agreement and (ii) reimbursement of reasonable travel and out-of-pocket expenses, including legal counsel fees and disbursements, in an amount not to exceed an aggregate of $50,000, subject to compliance with FINRA Rule 5110(f)(2)(D).

 

Pursuant to the Placement Agency Agreement, the Company has agreed to grant the Placement Agent, for a period of twelve (12) months from the date of the Placement Agency Agreement, a right of first refusal to provide investment banking services to the Company. For these purposes, investment banking services shall include, without limitation, acting as lead manager for any underwritten public offering, acting as placement agent, initial purchaser or financial advisor in connection with any private offering of securities, and acting as financial advisor in connection with any sale or other transfer, directly or indirectly, of a majority of the shares or assets of the Company to another entity, any purchase or other transfer by another entity, directly or indirectly, of a majority of the shares or assets of the Company, and any merger or consolidation of the Company with another entity. For the avoidance of doubt, the foregoing right of first refusal shall not apply to (i) any financing transaction where the Company deals directly with the lender or investor without using any intermediary, (ii) any employee benefit or compensation-related issuance, or (iii) any acquisition-related issuance of securities as consideration without the intention of financing. Such right of first refusal is also subject to FINRA Rule 5110(g), which grants the Company a right of termination for cause, which includes that the Company may terminate the Placement Agent’s engagement upon the Placement Agent’s material failure to provide the services required by the Placement Agency Agreement.

 

The foregoing description of the Purchase Agreement, the Placement Agency Agreement and the transactions contemplated thereby do not purport to be complete and are qualified in their entirety by reference to the full text of the Purchase Agreement and the Placement Agency Agreement, which are filed as Exhibit 10.1 and 10.2 hereto, respectively, and incorporated herein by reference.

 

Incorporation by Reference

 

The information contained in this report on Form 6-K is hereby incorporated by reference into the Shelf Registration Statement and shall be a part thereof from the date on which this report is furnished, to the extent not superseded by documents or reports subsequently filed or furnished.

 

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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.

 

Date: July 31, 2026 WF HOLDING LIMITED
   
  /s/ Leah Siang Ling
  Name: Leah Siang Ling
  Title: Co-Chief Executive Officer

 

 

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EXHIBIT INDEX

 

Exhibit No.   Description of Exhibit
5.1   Opinion of Ogier
10.1   Standby Equity Purchase Agreement, dated July 30, 2026, between WF Holding Limited and the Investor named therein
10.2   Placement Agency Agreement, dated July 30, 2026, between WF Holding Limited and Univest Securities, LLC
23.1   Consent of Ogier (included in Exhibit 5.1)

 

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Filing Exhibits & Attachments

3 documents