TEN Holdings, Inc.

TEN Holdings, Inc. announced a registered direct offering of 7.5 million shares of its common stock at $1.00 per share, expecting to raise approximately $7.5 million in gross proceeds. The company entered into a Placement Agency Agreement with WestPark Capital, Inc. for this offering, which is anticipated to close around June 30, 2026. The net proceeds will be allocated towards general working capital, corporate purposes, and the repayment of indebtedness.

TEN Holdings, Inc. filed an S-1MEF registration statement to increase the aggregate number of common stock shares offered by 2,500,000. This filing, made pursuant to Rule 462(b), incorporates by reference the prior effective S-1 registration statement (File No. 333-294896). The additional shares represent no more than 20% of the maximum aggregate offering price set forth in the prior registration.

TEN Holdings, Inc. is offering 5,000,000 shares of its common stock at an assumed public offering price of $1.25 per share, aiming to raise approximately $5.4 million in net proceeds for working capital and debt repayment. New investors will face immediate dilution of $0.46 per share. The company also disclosed ongoing DOJ and SEC investigations related to its IPO and four contracts, and a Nasdaq deficiency letter regarding non-compliance with listing requirements, posing significant risks.

TEN Holdings, Inc. is offering 8,000,000 shares of its common stock at an assumed public offering price of $1.41 per share, aiming to raise approximately $10.0 million in net proceeds. The company intends to use these funds for general working capital, corporate purposes, and debt repayment. However, the offering comes amidst significant risks, including a Nasdaq delisting threat due to non-compliance with the minimum stockholders' equity requirement and ongoing investigations by the U.S. Department of Justice and the SEC related to its IPO and certain contracts.

TEN Holdings, Inc. received a deficiency letter from Nasdaq for non-compliance with the minimum $2,500,000 stockholders' equity requirement, facing potential delisting if a compliance plan is not accepted by July 10, 2026. Separately, the company completed a private placement on May 22, 2026, issuing 500,000 shares of common stock for approximately $500,000. In connection with the private placement, the company also entered into a registration rights agreement to register the shares for resale.

TEN Holdings, Inc. reported a net loss of $2.9 million for the first quarter of 2026, an improvement from the $4.8 million loss in the prior year period, with revenue increasing to $853,000. However, the company's cash position significantly declined to $79,000, and it issued a going concern warning due to continued losses and negative operating cash flow. Furthermore, TEN Holdings disclosed it is cooperating with grand jury and SEC subpoenas related to its initial public offering and other contracts.

Ten Holdings, Inc. announced that Randolph Jones mutually agreed to step down as Chief Executive Officer and Chairman of the Board, effective May 8, 2026. His departure was not due to any disputes. In connection with his separation, Mr. Jones will receive six months of his base salary and can exercise vested stock options for one year. Concurrently, the Board appointed Virgilio Torres, the company's Chief Financial Officer, as the new CEO and Chairman. Mr. Torres will also continue in his CFO role during the search for a new Chief Financial Officer.