Fitness Champs Holdings Limited (NASDAQ:FCHL) said it has set the terms for a public offering expected to raise about $5 million in gross proceeds before fees and expenses, according to a company statement. The announcement comes as the stock trades at $1.55, having fallen 21% over the past week, and with a market capitalization of roughly $1.76 million.
The deal comprises 3,225,000 units priced at $1.55 each. Every unit includes one Class A ordinary share, or alternatively a pre-funded warrant, along with one warrant to purchase an additional Class A share. These warrants carry an exercise price of $2.635 per share and can be exercised for six months from the date of issuance.
The transaction is expected to close on or around April 20, 2026, subject to standard closing conditions. Univest Securities, LLC is acting as the sole placement agent.
Fitness Champs said it plans to allocate the net proceeds toward business expansion, working capital, and other general corporate uses.
The securities are being issued under a Form F-1 registration statement (File No. 333-294575), which was declared effective by the U.S. Securities and Exchange Commission on March 27, 2026.
The company operates as an aquatic education provider in Singapore, offering swimming instruction to both children and adults. It delivers lessons in public schools under Singapore’s Ministry of Education through the SwimSafer program and has also provided private coaching services under the Fitness Champs brand since 2012.