Business Context and Reporting Period
Company: LOBO TECHNOLOGIES LTD.
Filing Type: Form 6-K (Report of Foreign Private Issuer)
Reporting Period: March 2026 (Event date: March 23, 2026; Closing date: March 30, 2026)
Context: The filing details the pricing and closing of a best efforts public offering of Units and Pre-Funded Units.
Key Financial Metrics
| Metric | Value |
|---|---|
| Gross Proceeds | $2,000,000 |
| Net Proceeds | $1,850,000 |
| Units Offered | 3,921,567 |
| Public Offering Price (Unit) | $0.51 |
| Public Offering Price (Pre-Funded Unit) | $0.509 |
| Placement Agent Fees | 7.0% (introduced investors) / 3.0% (direct investors) |
| Other Expenses | Up to $50,000 (legal/out-of-pocket) |
Note: This filing does not provide revenue, profit, cash flow, margins, debt, or liquidity metrics for the company's operations.
Material Changes
The primary material change is the capital raise event. The Company successfully closed a $2 million gross offering, resulting in the issuance of 3,921,567 Units (or Pre-Funded Units). Each Unit consists of one Class A ordinary share, one Series A Warrant, and one Series B Warrant. The filing does not provide comparative financial data against a prior period.
Guidance, Outlook, and Risks
- Use of Proceeds: Net proceeds of $1.85 million will be used to fund development programs, working capital, and general corporate purposes.
- Warrant Terms:
- Series A & B Warrants: Exercise price of $0.561 per share (110% of offering price); exercisable immediately; expire on the second anniversary of issuance.
- Series B Zero Exercise Price Option: Allows cashless exercise; capped at 5x the number of shares issuable upon cash exercise (max 19,607,835 shares).
- Pre-Funded Warrants: Exercise price of $0.001; immediately exercisable.
- Beneficial Ownership Limitations: Holders cannot exercise warrants if it results in beneficial ownership exceeding 4.99% (increasable to 9.99% with 61 days' notice).
- Risks: The filing includes standard disclaimers regarding the legality of offers in various jurisdictions and notes that warrant descriptions are qualified by the full legal documents filed as exhibits.
Investor Verification Checklist
- Verify the final number of Pre-Funded Units sold versus standard Units to determine the exact share count dilution.
- Review the full Securities Purchase Agreement (Exhibit 10.1) for specific covenants and redemption rights.
- Confirm the actual placement agent fees paid versus the estimated 7.0%/3.0% structure to validate the $1.85 million net proceeds figure.
- Check subsequent filings for the utilization of the $1.85 million net proceeds against the stated development programs.
- Monitor the exercise of Series B Warrants under the "zero exercise price option" to assess potential future dilution up to the 19.6 million share cap.