Antelope Enterprise Closes $6 Million Convertible Promissory Notes Offering
News related to:Antelope Enterprise Holdings Limited · 2 min read
New York, New York, Sept. 16, 2026 /CourierPR/ -- Antelope Enterprise Holdings Limited, a company that provides livestreaming e-commerce services, business management, and information systems consulting services in China, has successfully closed an offering of $6.0 million in 8.00% convertible promissory notes. The company received net proceeds of approximately $5.965 million after deducting estimated offering expenses.
The convertible promissory notes bear interest at an annual rate of 8.00%, accruing from September 10, 2026, until the notes are paid in full. These notes have no fixed maturity date and can be converted into the company's Class A ordinary shares at the option of the holder. The conversion price is set at 80% of the lowest daily volume-weighted average price (VWAP) of the ordinary shares on the Nasdaq Capital Market during the three trading days ending on and including the applicable conversion date.
The notes are subject to both the Nasdaq 19.99% issuance cap under Nasdaq Listing Rule 5635 and a strict beneficial ownership limitation. This means that the holder will not have the right to convert any portion of the notes if, immediately following such conversion, the holder and its affiliates would beneficially own more than 9.99% of the company's issued and outstanding ordinary shares. Additionally, the ordinary shares issuable upon conversion of the notes are subject to a Conversion Shares Registration Cap of 12,000,000 shares.
The convertible promissory notes were offered pursuant to a "shelf" registration statement on Form F-3, which became effective on May 5, 2026. The offering was made to an accredited investor, and a prospectus supplement was filed with the Securities and Exchange Commission (SEC) on the SEC's website.
Antelope Enterprise Holdings Limited operates a 51% ownership position in Hainan Kylin Cloud Services Technology Co. Ltd, which runs a livestreaming e-commerce business in China. The company's financial health and its ability to continue as a going concern are subject to various risks, including market performance, customer retention, and macroeconomic conditions.
According to the company's filings, the proceeds from this offering will be used to support the company's ongoing operations and growth initiatives. The company has not provided specific details on how the funds will be allocated, but it is expected that the capital raised will contribute to the expansion of its livestreaming e-commerce services and business management consulting offerings.
The company's Chief Financial Officer, Xiaoying Song, stated, "The successful closing of this offering is a testament to the confidence investors have in our business model and growth potential. We are committed to leveraging these funds to enhance our services and support our strategic initiatives."
The company's stock is listed on the NASDAQ Capital Market, and investors are encouraged to review the preliminary prospectus supplement and the accompanying prospectus, as well as other documents filed with the SEC, for more detailed information about the offering and the company's financial status.