Recon Technology launches $100M at-the-market share offering
What's the deal? Recon TechnologyDealroom has a profile for this one. Try Dealroom → (NASDAQ: RCON), a China-based solutions integrator for the oilfield service, environmental protection, electric power, and coal chemical industries, has launched an at-the-market equity program to sell up to $100 million in Class A ordinary shares. The company signed the sales agreement on July 28, 2026, with Pacific Century Securities acting as exclusive sales agent.
How it works: Under the program, Recon can offer shares from time to time at prevailing market prices, with volume and timing left to its discretion. Sales are made under an existing shelf registration statement filed with the US Securities and Exchange Commission.
What's the money for? Recon expects to use proceeds for general corporate purposes, including working capital, capital expenditures, potential acquisitions, and business development. The maximum raise is capped at $100 million or the company's available shelf capacity, whichever is lower.
Why now? Recon bills itself as the People's Republic of China's first NASDAQ-listed non-state-owned oil and gas field service company. It supplies China's largest oil explorers with automated technologies, gathering and transportation equipment, and reservoir stimulation services.
The signal: An at-the-market program gives Recon a flexible way to tap public markets over time rather than in a single raise, a structure that lets it sell into share-price strength. The $100 million ceiling marks a significant step up in the company's fundraising ambitions.
Read more: PR Newswire
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