Skyline Builders raises $17.8 million in private placement

Skyline Builders Group Holding Limited (NASDAQ: SKBL) announced it entered into a securities purchase agreement for a private placement expected to raise approximately $17.775 million in gross proceeds before fees and expenses.

The Hong Kong-based civil engineering services provider will issue up to 24,349,315 Class A ordinary shares and/or prefunded warrants at $0.73 per share, along with two series of warrants to purchase additional shares. The A warrants carry an exercise price of $0.60 per share, while the B warrants have an exercise price of $0.65 per share. Both warrant series are immediately exercisable for five years following the closing.

The company plans to use approximately $7 million of the net proceeds to retire 18.5 million Class A ordinary shares owned by Supreme Development (BVI) Holdings Limited, which is beneficially owned by Chief Executive Officer Ngo Chiu Lam. The remaining proceeds will fund working capital and general corporate purposes.

Dominari Securities LLC, Revere Securities LLC and Pacific Century Securities are serving as co-placement agents for the offering, which is expected to close on August 27, 2025, subject to customary conditions.

The securities have not been registered under the Securities Act of 1933 and may not be offered or sold in the United States without registration or an applicable exemption. Skyline Builders has agreed to file a registration statement with the Securities and Exchange Commission covering the resale of the shares and underlying warrants issued in the private placement.

Skyline Builders operates as an approved public works contractor undertaking roads and drainage projects in Hong Kong, working primarily as a subcontractor on public civil engineering works including infrastructure developments.

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