WORK Medical Technology Group LTD entered a securities purchase agreement for a private placement to raise approximately $2.125 million. The agreement, dated August 4, 2026, involves the sale of 2 million Class A ordinary shares at $1.00 per share. The company will also issue 50,000 Class B ordinary shares at $2.50 per share.
Management intends to use the proceeds for business expansion, working capital, and general corporate purposes.
This financing follows a 1-for-100 reverse stock split effective June 18, 2026. The company implemented the split to regain compliance with Nasdaq’s minimum bid price requirement. Both the split and the private placement support the strategy to maintain its listing on the Nasdaq Capital Market.