Decent Holding Inc. priced a registered offering of 13,333,333 Class A ordinary shares at $0.60 each, accompanied by 26,666,666 warrants that allow purchase of shares at an exercise price of $0.66 for a 120‑day term. The offering is being conducted on a best‑effort basis by placement agent D. Boral Capital and is expected to close on or about November 12, 2025.
The pricing follows the company’s January 2025 IPO, which raised $5 million at $4.00 per share. The current offering price is only 15% of the IPO price, a significant discount that signals a lower valuation or reduced market confidence. The issuance is dilutive, and the warrants add potential future dilution if exercised, underscoring the company’s need to strengthen liquidity while maintaining shareholder value.
Proceeds will be directed toward business expansion, research and development, river water‑quality management, wastewater‑technology development, and talent recruitment. China’s environmental services market is estimated at more than $21 billion, and Decent Holding’s focus on wastewater treatment and ecological river restoration positions it to capture growing demand for sustainable water solutions. The capital will support scaling of technology platforms and workforce expansion to meet this demand.
Financially, Decent Holding reports no debt and a robust Altman Z‑Score, with a 3‑year revenue growth rate of 54.4% and a net margin of 11.07%. The offering will bolster the company’s liquidity and enable continued investment in high‑growth areas, while the best‑effort basis indicates some uncertainty in securing the full $8 million target.
Additional context: The company adopted a dual‑class share structure and governance enhancements in June 2025, reclassifying its authorized share capital into Class A and Class B ordinary shares. Ortoli Rosenstadt LLP serves as U.S. counsel, and Crone Law Group, P.C. advises the placement agent. The registration statement on Form F‑1 (File No. 333‑289797) became effective on November 6, 2025.
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