LOBO Prices $2M Public Offering of 3.92M Units with Series A and B Warrants
LOBO priced a public offering of 3,921,567 units at $0.51 each, generating about $2 million in gross proceeds and including one Class A ordinary share and Series A and B warrants per unit. The offering, closing around March 25, 2026, will fund development programs, working capital and general corporate purposes.
1. Public Offering Structure
LOBO has priced a public offering of 3,921,567 units at $0.51 per unit, raising approximately $2 million in gross proceeds before fees. Each unit comprises one Class A ordinary share, one Series A warrant and one Series B warrant, while investors may instead purchase 3,921,567 pre-funded units at $0.509 each.
2. Warrant Terms and Exercise Provisions
Each Series A and Series B warrant has an exercise price of $0.561 per Class A share, is immediately exercisable and expires two years from issuance. Pre-funded warrants may be exercised at any time until fully exercised, and Series B warrants include a zero-cash exercise option allowing conversion into five shares per warrant.
3. Use of Proceeds and Closing Conditions
The offering is expected to close on or about March 25, 2026, subject to customary closing conditions. LOBO plans to deploy net proceeds to advance its development programs, bolster working capital and cover general corporate purposes.
4. Registration and Placement Agent
The units and underlying securities are offered under a registration statement on Form F-1 declared effective on March 23, 2026. ARC Group Securities LLC is acting as sole placement agent, with Sichenzia Ross Ference Carmel LLP serving as U.S. counsel to the agent.