Haoxi Health Technology raises $6.5M in registered direct offering
What's the deal? Haoxi Health Technology Ltd (NASDAQ: HAO), a Beijing-based online marketing solutions provider for China's healthcare industry, has entered into a definitive agreement to sell approximately $6.5M in securities through a registered direct offering.
The deal includes 9 million Class A ordinary shares and roughly 17 million pre-funded warrants, priced at $0.25 per share. Univest SecuritiesDealroom has a profile for this one. Try Dealroom → is acting as sole placement agent.
The offering is expected to close on or about May 12, 2026. Haoxi plans to use the net proceeds — after placement agent commissions and expenses — for working capital and general corporate purposes.
Why now? The offering is being made under a shelf registration statement on Form F-3 that became effective in June 2025, giving the company a ready mechanism to tap public markets when it needs capital. Small-cap companies listed in the US often use registered direct offerings as a faster, less costly alternative to traditional follow-on rounds.
What could go wrong? Registered direct offerings at steep discounts can dilute existing shareholders significantly. With 9 million new shares plus pre-funded warrants convertible into additional shares, the dilution here is substantial. The $0.25 per-share price signals that the company's stock is trading at very low levels, which can raise liquidity and delisting concerns on Nasdaq.
Haoxi operates in China's tightly regulated online advertising market, where policy shifts around healthcare marketing can reshape the business landscape quickly.
The signal: Univest Securities, the corporate investor acting as sole placement agent, has carved out a niche facilitating capital raises for small-cap Chinese companies on US exchanges. Haoxi's reliance on a registered direct offering at $0.25 per share underscores the limited fundraising options available to micro-cap firms in this segment, where conventional institutional backing remains scarce and dilutive public-market deals are often the only path to fresh working capital.
Read more: globenewswire.com
