Megan Holdings Prices $7.5M Follow-On Offering Of Up To 15M Shares At A Price Of $0.50/Share

Megan Holdings Limited (NASDAQ:MGN) (the "Company" or "Megan"), a Malaysia-based company principally engaged in the development, construction, and maintenance of aquaculture farms and related works, today announced the pricing of a follow-on public offering (the "Offering") of up to 15,000,000 Class A ordinary shares, par value US$0.003 per share (the "Class A Ordinary Shares"), at a public offering price of US$0.5 per share.

The Offering is being conducted on a reasonable best-efforts basis. Prime Number Capital, LLC is acting as the exclusive placement agent for the Offering. The Offering is expected to close on or about October 29, 2026, subject to the satisfaction of customary closing conditions. There is no minimum offering amount required as a condition to closing.

The Company expects to receive aggregate gross proceeds of up to approximately US$7.5 million, assuming the sale of all of the Class A Ordinary Shares offered, before deducting placement agent fees and other offering expenses payable by the Company. The Company intends to use the net proceeds from the Offering for the development of new products (including its Smart Farming System), business ventures and acquisitions and for general working capital.