CCSC Technology International Holdings Ltd (NASDAQ:CCTG) saw its stock fall 16.9% on Wednesday after the Hong Kong-based interconnect products company announced it had priced its public offering at $0.60 per share.
The offering includes 11,766,627 Class A ordinary shares, each accompanied by two warrants allowing the purchase of additional Class A shares. The warrants carry an exercise price of $0.72 per share, equal to 120% of the offering price, and will expire five years after issuance.
CCSC Technology anticipates gross proceeds of roughly $7.06 million from the offering, which is expected to close around October 2, 2025. The company intends to use the funds to enhance branding and marketing in Europe and Southeast Asia, pursue strategic acquisitions, and cover general corporate expenses.
Revere Securities LLC is acting as the placement agent for this best-efforts offering. The sharp decline in stock price reflects investor concern over potential dilution from the issuance of new shares.
CCSC Technology focuses on designing, manufacturing, and selling interconnect products such as connectors, cables, and wire harnesses.
CCSC Technology International Holdings stock price
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