Eastern International Ltd. — Form F-1
Filed November 2, 2026 · analyzed by the Registration Agent
F-1
▼ Likely negative
significance 28/100
What the filing says
Eastern International Ltd., a Cayman Islands holding company conducting logistics and new energy construction services via Chinese subsidiaries, is conducting a best-efforts offering of up to 12,500,000 ordinary shares at $0.36/share (vs. $0.72 last trading price on Oct 30, 2026). Gross proceeds capped at $4.5M; net proceeds ~$4.28M after 5% placement fee ($225k) and $100k reimbursement. Placement agent: uSmart Capital, LLC. Company completed IPO in August 2025 at $4.00/share (1.6M shares). Post-offering, 25.3M shares outstanding; Albert Wong controls ~62.25% voting power via dual-class structure (1M Series A + 200k Series B preferred shares worth 10x and 100x votes respectively). No minimum offering threshold; investor funds not escrowed.
Why this rating
Offering size ~13% of company assets; steep 55% discount to Oct 30 price; best-efforts structure signals weak demand; significant shareholder dilution and Wong's control concentration reinforce governance risks.
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