YY Group Holding Ltd (NASDAQ:YYGH) shares climbed about 4.4% on Monday after the company announced it is suspending its At-The-Market (ATM) equity offering program and canceling more than 1 million shares that had not yet been issued.
The workforce solutions and facilities management company said it instructed its sales agents, Spartan Capital Securities and Wilson-Davis & Co., to immediately halt activity under the ATM program. The company also ordered the return and cancellation of 1,004,107 common shares that had previously been allocated to the sales agents but had not been sold.
Once the cancellation is finalized, which the company expects around April 3, 2026, YY Group’s total shares outstanding will decline from 4,278,935 to 3,274,828. No additional shares will be issued through the ATM program while the suspension remains in place.
YY Group said its current liquidity is adequate to fund near-term operations and support its previously announced fiscal 2026 revenue outlook of between $103 million and $110 million.
“We have the capital we need to execute our plan, and pausing the ATM reflects that assessment,” said Mike Fu, Chief Executive Officer of YY Group. “Our focus is on delivering against our FY2026 targets, improving our margin profile, and demonstrating the operational leverage in our business.”
The ATM facility allows the company to sell up to $20 million in common shares into the market. YY Group noted that while it retains the option to restart the program at a later date, there are currently no plans to resume share sales.