JIADE Limited (NASDAQ: JDZG) completed a registered direct offering of 12 million Class A ordinary shares on February 19, 2026. The shares were sold at $0.25 each, raising $3 million in gross proceeds. Univest Securities, LLC served as the sole placement agent, and the offering was conducted under a shelf registration statement on Form F‑3 that became effective on January 13, 2026.
The offering price represents a steep discount to the market price of $0.88 that prevailed at the time of the announcement, a discount that was necessary to attract investors amid the company’s recent volatility.
JIADE’s financial profile underscores the need for the capital raise. The company has been burning cash, reporting negative free cash flow of $6.5 million over the last twelve months and no profitability during that period. The proceeds are intended for general corporate purposes, including strengthening the balance sheet and supporting the expansion of its Kebiao Technology Educational Administration Platform.
The filing also includes a provision for up to 48 million additional shares to be offered within 30 days, a potential dilution that could materially affect existing shareholders if fully exercised.
Investor sentiment has been cautious, with concerns focused on the steep discount, the company’s cash burn, and the dilution risk. The offering comes at a time when JIADE has recently announced a strategic partnership with Chinalink Education Group to collaborate on vocational education, AI‑enhanced teacher training, study‑abroad preparation, and curriculum development, which may help drive future growth.
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