Corporate ActionJul 31, 2026, 09:56 AM
Recon Technology Announces $100M At-the-Market Equity Offering
AI Summary
Recon Technology, Ltd. announced it has entered into an At-the-Market (ATM) Issuance Sales Agreement with Pacific Century Securities, LLC. Under this agreement, the company may sell up to $100 million of its Class A ordinary shares from time to time. The proceeds from any sales are intended for general corporate purposes, including working capital, operating expenses, capital expenditures, potential acquisitions, and other strategic initiatives.
Key Highlights
- Entered into an At-the-Market (ATM) Issuance Sales Agreement on July 28, 2026.
- May issue and sell Class A ordinary shares with an aggregate gross sales price of up to $100,000,000.
- Pacific Century Securities, LLC will serve as the exclusive sales agent.
- Sales will be made at or related to then-prevailing market prices.
- Company will pay the Sales Agent a commission of up to 3.5% of gross proceeds.
- Proceeds to be used for general corporate purposes, including working capital and potential acquisitions.
Price Impact
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