Skyline Builders Group Holding Limited (NASDAQ: SKBL) announced the pricing of a private placement of 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 of senior unsecured convertible notes to US investors under Regulation D and $600,000 of class B preferred shares to non-US investors under Regulation S. The company also issued 250,000 preferred shares in the transaction.

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 customary adjustments for share splits, recapitalizations and similar transactions.

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

The company will file a registration statement with the Securities and Exchange Commission within 60 business days after closing for resale of the underlying ordinary shares. 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 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.