Recon Technology launches $100M at-the-market equity offering

Recon Technology, Ltd (NASDAQ: RCON), a China-based oilfield services and environmental protection company, announced it has entered into an at-the-market issuance sales agreement dated July 28, 2026, allowing the company to sell up to $100 million in Class A ordinary shares.

Pacific Century Securities, LLC will serve as the exclusive sales agent or principal under the agreement. Shares will be sold at or related to prevailing market prices, with the volume and timing of sales determined at the company's discretion.

The maximum offering amount will be $100 million or the maximum permitted under the company's current shelf registration capacity, whichever is lesser. The shares will be offered under an existing shelf registration statement on Form F-3 filed with the U.S. Securities and Exchange Commission. A prospectus supplement dated July 28, 2026, has been filed with the SEC.

The company stated it intends to use any proceeds for general corporate purposes, including working capital, operating expenses, capital expenditures, and potential acquisitions.

Kaufman & Canoles, P.C. is acting as U.S. counsel to the company, while McCarter & English, LLP is serving as U.S. counsel to the sales agent.

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