Green Circle Decarbonize Technology Ltd — Form F-1
Filed September 21, 2026 · analyzed by the Registration Agent
F-1
▼ Likely negative
significance 42/100
What the filing says
On July 16, 2026, Green Circle Decarbonize Technology Ltd sold Target Capital 1, LLC a US$10M convertible note (20% discount, maturing Jan 2027) and warrants to purchase 29.1M shares at US$2.00/share, plus committed to sell up to US$100M more shares via an equity line. This F-1 registers resale of 182M shares from note conversion (at US$0.1099 floor) and 265M shares from warrant exercise. The note has full-ratchet anti-dilution and floor-price triggers requiring cash payouts. Stock closed Sept 18, 2026 at US$0.38.
Why this rating
Dilutive financing with punitive terms (20% OID, ratchets, mandatory repurchases). Company IPO'd Jan 2026 at US$4/share; stock now US$0.38. Maturity Jan 2027 creates refinance risk. Small pre-IPO revenue base; financing size material but equity market cap collapsed post-IPO.
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