Sagtec Global raises $552,500 via private placement with Malaysian prince

Sagtec Global Limited (Nasdaq: SAGT) has entered into a private subscription agreement with Tengku Hassanal Ibrahim Alam Shah Ibni Al-Sultan Abdullah, known as HRH Prince Hassanal of Pahang, Malaysia, for a private placement totaling $552,500, according to a company statement.

Under the agreement, the investor will purchase 850,000 Class A ordinary shares at $0.65 per share. The subscription amount is payable within six months following the issuance date, with the option to pay early without penalty.

Closing of the placement remains subject to board approval and compliance with applicable securities laws and Nasdaq requirements. The shares have not been registered under the U.S. Securities Act of 1933 and constitute restricted securities.

The Malaysia-headquartered company said it plans to use the proceeds to fund development of its AI-assisted software solutions, enterprise technology projects, cloud and digital infrastructure, business development activities in Malaysia and Southeast Asia, and general working capital needs.

"Malaysia has the talent and capabilities to develop technology companies that can compete regionally and internationally. I believe Sagtec has meaningful potential to contribute to this progress through its work in artificial intelligence, enterprise software and digital infrastructure," said HRH Prince Hassanal of Pahang.

Ng Chen Lok, Chairman and Chief Executive Officer of Sagtec, said the capital would support commercialization of the company's AI-assisted solutions and execution of enterprise projects, with a focus on building recurring software and technology-services revenue.

Sagtec, which completed its initial public offering in March 2025, provides AI-assisted software, enterprise technology platforms, and cloud-based digital solutions to clients across Southeast Asia. The company's Speed+ smart ordering platform currently serves more than 12,000 clients.

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