Star Fashion Culture stock falls on $9.6M share offering

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September 25, 2026 9:16 AM EDT

Investing.com -- Star Fashion Culture Holdings Ltd (NASDAQ: STFS) shares fell 5.3% in premarket trading Friday following the pricing of a follow-on public offering of Class A ordinary shares.

The company priced the offering on September 25, 2026, selling 12,000,000 Class A ordinary shares at $0.80 per share. Gross proceeds are expected to reach approximately $9,600,000 before deducting placement agent fees and other offering expenses.

Kingswood Capital Partners, LLC is serving as the placement agent for the transaction. The offering is expected to close on September 28, 2026, subject to customary closing conditions.

Star Fashion Culture said it intends to use the net proceeds to develop its online marketing services and for general administration and working capital.

Star Fashion Culture Holdings Limited is a content marketing solutions services provider that offers marketing campaign planning and execution, offline advertising services, and online precision marketing services.

The share price decline reflects the dilutive effect of issuing new shares, which increases the total supply of stock on the market and reduces existing shareholders' ownership stakes.

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