Skyline Builders Group Holding Limited (NASDAQ: SKBL) announced the pricing of a private placement offering convertible notes and preferred shares for gross proceeds of approximately $17.2 million, according to a company statement.

The Hong Kong-based construction company issued $16.6 million in senior unsecured convertible notes to U.S. investors under Regulation D and $600,000 in class B preferred shares to non-U.S. investors under Regulation S. The offering also includes 250,000 preferred shares with a par value of $0.00001 per share.

Both the notes and preferred shares convert into class A ordinary shares at $2.40 per share, subject to anti-dilution adjustments with a floor price of $1.50 per share. The conversion terms include standard adjustments for stock splits, recapitalizations and similar corporate actions.

Dominari Securities LLC served as placement agent for the convertible notes, while Ocean Wall Ltd. acted as introducer for the preferred shares. The transaction is expected to close on March 24, 2026, subject to customary closing conditions.

The company will file a registration statement on Form F-1 with the Securities and Exchange Commission within 60 business days of closing to enable resale of the underlying ordinary shares. The securities have not been registered under the Securities Act of 1933 and cannot be offered or sold in the United States without registration or an applicable exemption.

Skyline Builders operates as a public works contractor specializing in roads and drainage projects in Hong Kong, working primarily as a subcontractor on civil engineering projects for both public infrastructure and private residential and commercial developments.