WATCHING
VSA — VisionSys AI: signed SPA for 125,000,000,000 Class A shares @ $0.000734 (~$91.75M), payable in fiat or crypto at the company's discretion, expected to close Q3 2026 — ~35x its ~$2.6M cap. Watching until it closes.
SUPX — SuperX AI: signed Mercuria subscription for $26.895M senior unsecured convertible notes (conv. $8.15), Reg S; closing pending (~20 business days). Watching until it closes.
TWG — Top Wealth Group: 40,000,000 Class A ordinary shares to 9 non-US investors at $2.00 under a Reg S subscription — but the 6-K body puts the aggregate at $80,000,000 while the press release filed with it says $16,000,000 for the identical share count and price, and the subscription is payable in cryptocurrency to the company's wallet. Watching until the proceeds figure is resolved.
WYHG — Wing Yip Food: board-adopted private placement of 23,000,000 new ordinary shares to three named subscribers at KRW1,600 (~$1.09), ~$25.0M — proposed only, contingent on the Aug 6, 2026 EGM vote and HK registration. Watching until priced and approved.
ZBAO — Zhibao Technology: signed 7/31 SPA for 442,000,000 units (share + 2-year warrant) at ~$0.35, a $154.7M subscription payable entirely in 2,380 Bitcoin at a $65,000/BTC reference — ~16x its ~$9.8M cap. Unclosed and conditioned on share-capital and Nasdaq approvals. Watching until it closes.
WLDS — Wearable Devices: signed 7/31 SPA with a single institutional investor for 240,000 ordinary shares at $3.285 plus pre-funded warrants for 760,000 more (~$3.28M) — priced and signed, then blocked. On 8/2/26 the Haifa District Court, in activist-shareholder proceedings, issued an interim ex parte order barring the company from advancing the placement or altering its capital structure; the company states it cannot complete the placement while the order stands. Hearing 8/12/26. Watching until the order is lifted and it closes.