Ascent Bridge Limited Announces Full Utilisation of Placement Proceeds

Ascent Bridge Limited (Incorporated in the Republic of Singapore, Company Registration Number: 198300506G) has provided an update on the utilisation of net proceeds raised from its recent placement of new ordinary shares. The announcement, dated 1 December 2025, contains several key points that current and prospective investors should note.

Key Highlights of the Placement and Proceeds Utilisation

• Placement Details: The company completed a placement of 17,414,446 new ordinary shares at S\$0.14 per share.
• Gross Proceeds and Net Proceeds: After deducting placement-related costs and expenses of approximately S\$72,000, the company raised net proceeds of about S\$2,366,022.
• Full Utilisation of Proceeds: As of the date of the announcement, the entire net proceeds amount has been fully utilised for general working capital purposes.

Detailed Breakdown of Proceeds Utilisation

The net proceeds were allocated and spent as follows:

• Total allocation for general working capital: S\$2,366,000
• Balance as at 27 October 2025: S\$115,000
• Amount utilised since 28 October 2025 up to announcement: S\$115,000
• Balance as at announcement date: S\$0 (fully utilised)

Breakdown of the S\$115,000 utilised:

• Rental Expenses: S\$30,000
• Payroll-related Expenses: S\$85,000

Investor and Shareholder Considerations

• Transparency in Use of Funds: The company has strictly adhered to the intended use of proceeds as previously announced, allocating the entirety of the raised funds to general working capital, including rental and payroll.
• Potential Price Sensitivity: The full and transparent utilisation of placement proceeds may reassure investors regarding the company’s financial discipline and operational management. However, as proceeds were used mainly for ongoing operational expenses rather than growth initiatives or debt reduction, shareholders should assess the company’s future funding needs and sustainability of operations.
• No Remaining Proceeds: With the entire amount now spent, any future cash requirements will likely need to be met via internal generation or further capital raising. This may be a point of concern or interest for those monitoring the company’s liquidity and funding plans.
• Ongoing Disclosure: The board, led by Chairman and CEO Qiu Peiyuan, has reaffirmed commitment to transparency by providing this detailed update.

Conclusion: The announcement that all placement proceeds have been fully spent is significant from a corporate governance and liquidity monitoring perspective. Investors should watch subsequent announcements for any further capital-raising activities or updates on financial performance.

Disclaimer: This article is for informational purposes only and does not constitute investment advice or a recommendation to buy or sell any securities. Investors should conduct their own due diligence or consult a professional advisor before making any investment decisions.

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