Singularity Future Technology Ltd. said it signed securities purchase agreements with institutional investors to sell 1,562,500 common shares, or pre-funded warrants in lieu of shares, at $3.20 each in a registered direct offering priced under Nasdaq's at-the-market rules. The transaction is expected to generate about $5 million in gross proceeds before placement agent fees and other offering expenses and close on or around Aug. 21, 2026, subject to customary closing conditions. The company plans to use the proceeds for its planned data center business. Its shares rose 34.23% to $4.00 at the time of publication, according to Benzinga Pro data. Singularity operates primarily in freight logistics services and the sale of crypto-mining machines, with most revenue coming from freight logistics and a significant portion of that business in China.