Li Bang shares surge 16% after-hours following private placement agreement for 120M Class A shares at $0.25.

Li Bang International Corp surged 16.0% in after-hours trading following the announcement of a private placement to issue 120 million Class A common shares at $0.25 per share, raising $30 million. The deal, signed on December 22 and expected to close by the same date, aims to bolster the company’s operations in the refrigeration and industrial equipment sector. While the press release did not specify the investors or fund allocation, the capital raise is likely viewed as a strategic move to support growth or operational needs, aligning with the stock’s upward trajectory. The transaction was disclosed to the U.S. Securities and Exchange Commission, reinforcing transparency in the process.