Antelope Enterprise prices $6M convertible note with Stratosphere Capital
What's the deal? Antelope Enterprise HoldingsDealroom has a profile for this one. Try Dealroom → (NASDAQ: AEHL), a Chinese livestreaming e-commerce and consulting firm, has priced a $6 million convertible promissory note sold to Stratosphere Capital Management. The company entered the note purchase agreement on September 9, 2026, and expects roughly $6 million in net proceeds after expenses.
The terms: The note carries 8% annual interest, payable in cash, and has no fixed maturity date. It converts into Class A ordinary shares at 80% of the lowest daily volume-weighted average price over the three trading days ending on the conversion date.
What are the guardrails? The holder cannot convert if doing so would push its stake above 9.99% of outstanding shares. Conversion shares are also capped at 12,000,000, with any excess treated as restricted securities.
Why now? The note was offered under a Form F-3 shelf registration that became effective on May 5, 2026, giving Antelope a ready channel to raise capital.
What's the endgame? Antelope holds a 51% stake in Hainan Kylin Cloud Services TechnologyDealroom has a profile for this one. Try Dealroom →, which runs its livestreaming e-commerce business in China.
The signal: Discount-priced, floating-conversion notes like this one give small-cap issuers fast cash but dilute existing holders as shares convert below market. For Antelope, the quick raise underscores its reliance on convertible financing to fund its China operations.
Image credit: Generated with Gemini
