WORK Medical Announces $2.1M Private Placement at $1.00/Share
WOK sits 25% above its 52-week low of $1.78.
Summary
WORK Medical agreed to a $2.1M private placement at a deep discount to market, with closing still pending. The capital raise follows a reverse split aimed at Nasdaq compliance.
Key Events · Financing and Capital Events · WOK
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Private Placement Agreement
On August 4, 2026, the company agreed to sell 2,000,000 Class A ordinary shares at $1.00 per share and 50,000 Class B ordinary shares at $2.50 per share, for total proceeds of approximately $2,125,000.
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Deep Discount to Market
The $1.00 Class A share price represents a 55% discount to the current market price of $2.22, indicating significant dilution for existing shareholders.
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Closing Pending
As of the filing date, closing conditions have not been satisfied and no shares have been issued under the securities purchase agreements.
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Use of Proceeds
The company plans to use the approximately $2,125,000 in proceeds for business expansion, working capital, and general corporate purposes.
Analysis · WOK · Industrial Applications And Services
WORK Medical entered into securities purchase agreements on August 4, 2026, to raise approximately $2.125 million through a private placement of 2 million Class A shares at $1.00 and 50,000 Class B shares at $2.50. The deal has not closed and no shares have been issued yet. The $1.00 Class A price is a 55% discount to today's $2.22 stock price, reflecting the company's need for capital after a 1-for-100 reverse split in June to maintain Nasdaq listing. The proceeds are earmarked for business expansion and working capital.
How filings like this one have moved
In the 30 days to Oct 3, 2026, 28.8% of the 1640 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.58%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, WOK was trading at $2.22 on NASDAQ in the Industrial Applications And Services sector, with a market capitalization of approximately $5.4M. The 52-week trading range was $1.78 to $930,000.00. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.