Basel Medical raises $7.98M in registered direct offering

Basel Medical Group Ltd (Nasdaq: BMGL), a Singapore-based medical services provider, closed a registered direct offering of 6,000,000 units at $1.33 per unit, raising gross proceeds of $7.98 million and estimated net proceeds of approximately $7.28 million, according to a company statement.

Each unit consisted of one ordinary share and one common warrant to purchase one additional ordinary share. No pre-funded warrants were issued. The common warrants are exercisable immediately at an exercise price equal to 110% of the public offering price and expire five years from the date of issuance. The warrants include a zero cash exercise option, meaning the company does not expect to receive additional cash proceeds upon their exercise.

Prior to the offering, the company had 1,582,111 ordinary shares outstanding. Following the closing, total shares outstanding increased to 7,582,111, with 6,000,000 common warrants also outstanding.

The company said it intends to use net proceeds for general working capital, mergers and acquisitions, and other general corporate purposes.

Cathay Securities, Inc. served as exclusive placement agent. A 180-day lock-up period applies to the company, its executive officers, directors, and shareholders holding 5% or more of ordinary shares prior to the offering.

The offering was made pursuant to a registration statement on Form F-1 declared effective by the U.S. Securities and Exchange Commission on Sept. 29, 2026.

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