Republic Power agrees to $300,000 private share placement with chairman-owned affiliate
RPGL•Republic Power Group agreed to raise $300,000 by privately placing 25,000 Class B ordinary shares at $12 each with True Sage International, an affiliate wholly owned by Chairman Hao Feng Ng. The deal is expected to close around November 5, 2026, and would give True Sage approximately 72.02% of outstanding voting power.
1. Placement terms
Republic Power Group agreed on October 29, 2026, to issue 25,000 Class B ordinary shares to True Sage International at $12 each, raising $300,000. The placement price is a premium to the prior Nasdaq Class A trading range.
2. Voting power
True Sage is wholly owned by board Chairman Hao Feng Ng. Following the issuance, it will hold 26,874 Class B ordinary shares, representing approximately 72.02% of outstanding voting power. The transaction is expected to close around November 5, 2026.
