The company turned every 16 of its shares into one on August 7, reducing its outstanding count to about 1.4 million. Seventeen days later, it agreed to sell 15 million new shares in a private transaction — more than it had after the consolidation — and to hand the buyers warrants to purchase 15 million more.
Under a securities purchase agreement filed with the SEC on August 28, Antelope Enterprise Holdings sold 15 million Class A ordinary shares at $1.266 each, raising just under $19 million in total. The buyers — described only as "certain non-U.S. investors" — also received warrants to purchase another 15 million shares at $0.50 apiece. Before the reverse split took effect, the company had about 20.9 million shares outstanding, according to a press release filed with the SEC on August 5.
For someone holding a position, the placement alone would multiply the share count roughly tenfold from its post-split level: the same company, carved into far more pieces than existed a month ago. If the warrants are exercised, the buyers receive a second tranche identical in size to the first. The filing does not say what the proceeds will be used for.
Shares closed 83.33% higher at $6.4900 on September 1, after the filing, on dollar volume of about $316 million.
The shares are restricted securities, sold to non-U.S. investors without SEC registration; they may not be resold without an applicable exemption. The filing states that no broker fees or placement agent commissions were payable. Closing was expected in the third quarter of 2026, the filing said.
The buyers paid $1.266 per placement share. The warrants let them purchase the same number of additional shares at $0.50 — well below the price they had just agreed to pay. The filing gives no explanation for how the warrant price was set.