Oriental Rise Skyrockets Nearly 46% Pre-Market — What's Fueling The Rally? - Oriental Rise Holdings (NASDAQ:ORIS)

Oriental Rise Holdings Limited ORIS shares soared 45.52% to $0.25 in pre-market trading on Thursday following the company’s announcement of a $6.9 million public offering priced at $0.46 per unit.

Check out how ORIS stock is trading here.

What Happened: The China-based tea supplier closed on Tuesday at $0.16 and has traded between $0.14 and $56.01 over the past year. The stock carries a market capitalization of $3.83 million with a price-to-earnings ratio of 1.03, according to data from Benzinga Pro.

Oriental Rise announced on Tuesday the pricing of up to 14.8 million units through exclusive placement agent Maxim Group LLC. Each unit includes one ordinary share and one warrant exercisable at $0.46 per share with a five-year term. The warrants feature a zero exercise price option, allowing holders to receive double the shares without additional payment.

The offering’s structure includes downward exercise price adjustments to 70% on the fifth trading day and 50% on the tenth trading day following closing, with proportional increases in warrant shares to maintain nominal aggregate exercise price.

Why It Matters: The Ningde-based company operates tea gardens in Fujian Province and maintains vertically integrated operations covering cultivation, processing and sales of white and black tea products to wholesale distributors and retail customers across mainland China.

The offering closed on Wednesday under a registration statement declared effective July 21 by the Securities and Exchange Commission.

ORIS enjoys strong value but shows a negative price trend across short, medium, and long timeframes — check out the full breakdown on Benzinga's Stock Edge rankings.