Every 424B that WF International Limited (WXM) has filed with the SEC in the last 12 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 424B covers the supplement that carries the terms of a priced offering, so if you follow WXM and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full WXM filings page.
WF International Ltd. (WXM) is conducting a primary follow‑on offering of 5,000,000 ordinary shares at $1.10 per share, for a gross amount of $5,500,000, under its Form F‑3 shelf registration. Shares outstanding will increase from 3,117,587 to 8,117,587 ordinary shares.
The company expects net proceeds of about $5.4 million, which will be used for working capital and general business purposes. WF is a Cayman holding company that operates mainly through PRC subsidiaries in the HVAC, floor heating and water purification sectors, and it has recently shifted from profitability to losses.
The business is subject to extensive PRC legal, regulatory, capital‑control and data‑related regimes, CSRC filing rules for overseas offerings, and potential HFCA Act trading prohibitions if future auditors cannot be fully inspected. Cash movements depend on PRC and foreign‑exchange rules, and the company has no current plans to pay dividends, retaining earnings to fund operations.
WF International Ltd. (WXM) is conducting a small follow-on offering of 111,333 ordinary shares at $1.50 per share, for an aggregate offering amount of $166,999.50, under its Form F-3 shelf. Shares outstanding will increase from 3,026,256 to 3,137,589. The company expects net proceeds of about $0.2 million, to be used for working capital and general business purposes.
WF is a Cayman holding company whose investors own shares in the holding company, while operations are conducted mainly through PRC subsidiaries focused on HVAC, floor heating and water purification projects. Substantially all operations are in China, exposing the business to evolving PRC regulatory, capital-control and data/cyber rules, CSRC post-listing filing requirements, and potential HFCA Act-related trading risks. For the fiscal year ended September 30, 2025, WF reported revenue of approximately $13.4 million and a net loss of about $3.3 million, following revenue of $15.5 million and net income of about $1.0 million in 2024.
WF International Limited completed a registered direct offering of 1,720,688 Units, each with one ordinary share and one warrant, and registered 1,720,688 ordinary shares issuable upon warrant exercise. The company subsequently adjusted the Investor Warrant exercise price from $2.00 to $0.75 on November 7, 2025, pursuant to the warrant terms.
The Investor Warrants are exercisable upon issuance, expire five years from issuance, and include a beneficial ownership cap of 4.99% (or 9.99% at the holder’s election with advance notice). Cashless exercise is available if a registration statement for the underlying shares is not effective or a prospectus is not available. The warrants will not be listed. Placement Agent Warrants carry a three-year term, a $2.50 exercise price without subsequent equity sale adjustments, are cashless at any time, and are subject to a 180‑day lock‑up following November 6, 2025.
WF International (WXM) is offering 1,720,688 Units at $2.00 per Unit on a reasonable best‑efforts basis, with each Unit including one ordinary share and a five‑year Warrant to buy one share at the Unit price.
The offering also covers the ordinary shares issuable upon exercise of these Warrants and the Placement Agent Warrants. Gross proceeds are shown as $3,441,376, with Placement Agent commissions of $240,896 and proceeds before expenses of $3,200,480. The company estimates net proceeds of approximately $2.9 million, to be used ~20% for talent acquisition and ~80% for general corporate and working capital.
Ordinary shares outstanding were 6,900,000 before the offering and are expected to be 8,620,688 after closing. The Units will be issued in a single closing, there is no minimum, and no escrow arrangement. The Warrants will not be listed and may be illiquid. WXM last traded at $2.57 on November 4, 2025. As a China‑based operation, the company plans to file with the CSRC within three business days after closing, and notes PRC and HFCAA‑related regulatory risks. Lock‑ups of six months apply to the company and certain holders.