Antelope Enterprise stock falls on $100M share offering plan

Antelope Enterprise Holdings Ltd (AEHL) saw its shares drop by 5.5% in after-hours trading on Thursday following the announcement of a $100 million at-the-market share offering program. The company entered into an At-the-Market Issuance Sales Agreement with D. Boral Capital LLC as the sales agent, allowing it to sell up to $100 million worth of Class A ordinary shares at prevailing market prices.

The proceeds from the offering are expected to be used for general corporate purposes, including working capital, capital expenditures, and other business purposes. Antelope Enterprise aims to diversify its financing channels and strengthen its financial flexibility through this program, which will also support future strategic initiatives and capital activities.

The offering is subject to the company's shelf registration capacity and authorized but unissued Class A ordinary shares.

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