Neo-Concept International Group is trading 5.56% down at $1.19 after announcing a $2.0 million registered direct offering at $1.00 per share on September 30, 2026. - The offering covers 2,000,000 shares, with investors able to elect up to 200% additional shares under certain conditions, creating a dilution overhang. - Price fell from $14.65 on September 25 to $1.26 on September 30 before the pre-market move. - Closing is expected on or about October 1, subject to customary conditions.