Announcement
Mingteng International Corp Inc (NASDAQ: MTEN) announced pricing of a registered direct offering at $2.00 per share. The offering comprised 1.48 million Class A ordinary shares. In addition, the company issued pre‑funded warrants that allow purchase of Class A ordinary shares at an original exercise price of $2.00, with $1.99995 prepaid at closing and a remaining exercise price of $0.00005 per share.
Concurrent Private Placement
Simultaneously, Mingteng executed a private placement of unregistered warrants to purchase up to 1.48 million Class A ordinary shares at an exercise price of $2.00 per share. These private warrants become exercisable at closing and will expire 18 months from the issuance date.
Market Reaction
Following the pricing announcement, Mingteng’s shares declined 32.4 % on Wednesday, reflecting a material discount to recent trading levels and prompting a sharp sell‑off.
Proceeds and Use of Funds
The gross proceeds from the registered direct offering and the concurrent private placement are expected to be approximately $2.96 million before placement‑agent fees and other offering expenses. The company stated that net proceeds will be allocated to working capital and general corporate purposes.
Closing Timeline and Placement Agent
The offering is expected to close on or about 18 June 2026. FT Global Capital, Inc. is acting as the exclusive placement agent for the transaction.
Company Profile
Mingteng International Corp Inc is a China‑based automotive mold developer and supplier that provides design, development, production, assembly, testing, repair and after‑sales services for molds used in auto parts.