Maase to Raise $50 Million From PIPE Financing; Shares Rise

09:59 AM EDT, 09/23/2026 (MT Newswires) -- Maase (MAAS) shares were nearly 5% higher in early Wednesday trading after the company said it intends to raise expected gross proceeds of approximately $50 million through a private placement of 3.88 million Class A ordinary shares at $12.89 per share. Proceeds will be used to fund the expansion of its Star Distributed Intelligent Computing Centers, research and development and commercialization of its Lingyanmiaoyu large language model, and working capital, the company said. The PIPE financing is expected to close in October, subject to customary conditions, and the shares will be subject to a 36-month lockup, Maase said. Price: 15.11, Change: +0.21, Percent Change: +1.41