Business Context and Reporting Period
Company: Multi Ways Holdings Limited (Cayman Islands exempted company)
Filing Type: Form 6-K (Report of Foreign Private Issuer)
Reporting Date: September 15, 2025
Event: Completion of the initial closing of a registered offering of ordinary shares and warrants.
Key Financial Metrics and Transaction Details
- Shares Issued: 9,000,000 Ordinary Shares (par value $0.00025).
- Warrants Issued: Warrants to purchase up to 9,000,000 Ordinary Shares.
- Purchase Price: $0.165 per Ordinary Share and accompanying Warrant.
- Gross Proceeds: $1,485,000 (before deducting fees and expenses).
- Warrant Terms: Exercisable for five years at an exercise price of $0.198 per share.
- Placement Agent Fees: 5.0% cash fee plus 1.0% non-accountable expense allowance of aggregate gross proceeds.
- Other Expenses: Reimbursement of legal expenses up to $50,000, plus exchange listing, filing, and accounting fees.
Note: This filing reports on a capital raise event. It does not provide revenue, profit, cash flow, operating margins, debt levels, or liquidity metrics for the company's ongoing operations.
Material Changes and Offering Structure
The Company completed the initial closing of an offering previously registered on Form F-1 (File No. 333-286220), which was declared effective on September 10, 2025. The total offering size is up to 18,000,000 Ordinary Shares and corresponding warrants; the initial closing represents 50% of the maximum offering size.
Lock-Up Period: A 90-day lock-up period commenced on September 12, 2025, restricting the Company from issuing additional equity or debt (with customary exceptions) without the Placement Agent's consent.
Guidance, Outlook, and Risks
- Use of Proceeds: Intended for working capital and general corporate purposes.
- Forward-Looking Statements: The filing contains forward-looking statements regarding the closing of the offering and future business plans. The Company explicitly states that actual results may differ materially due to inherent uncertainties.
- Risk Factors: Investors are directed to the risks described in the Company's Form 20-F for the year ended December 31, 2024, filed on May 23, 2025.
- Contingencies: The transaction is subject to the terms of the Subscription Agreements and Placement Agency Agreement, including customary representations, warranties, and indemnification obligations.
Investor Verification Checklist
- Verify the final net proceeds after deducting the 6% total placement agent fees and the capped $50,000 legal reimbursement.
- Confirm the status of the remaining 9,000,000 shares and warrants available under the Form F-1 registration statement.
- Review the Form 20-F filed on May 23, 2025, for detailed risk factors and historical financial performance not included in this 6-K.
- Monitor the 90-day lock-up period expiration to assess potential future dilution or capital raising activities.