{"url_path":"/sec/mgn/10-k/2026/item-14","section_key":"item-14","section_title":"Item 14 Material Modifications to the Rights of Securities Holders and Use of Proceeds**","topic":"sec","document":{"doc_type":"20-F","doc_date":"2026-05-15","source_url":"https://www.sec.gov/Archives/edgar/data/1995075/0001213900-26-057595-index.html","accession_number":"0001213900-26-057595","cik":"0001995075","ticker":"MGN","issuer_name":"Megan Holdings Ltd.","edgar_url":"https://www.sec.gov/Archives/edgar/data/1995075/0001213900-26-057595-index.html","primary_entity_key":"0001995075","primary_entity_name":"Megan Holdings Ltd."},"word_count":362,"has_tables":true,"body_markdown":"**Item\n14. Material Modifications to the Rights of Securities Holders and Use of Proceeds**\n\n \n\n**14.A. - 14.D. Material Modifications to the\nRights of Security Holders**\n\n \n\nSee “Item 10. Additional Information”\nfor a description of the rights of shareholders, which remain unchanged.\n\n \n\n**14.E. Use of Proceeds**\n\n \n\nThe following “Use of Proceeds” information relates to\nthe registration statement on Form F-1 (File No. 333-281357), as amended, which registered 1,250,000 ordinary shares (which were subsequently\nredesignated as Class A Ordinary Shares) and was declared effective by the SEC on September 22, 2025, for our initial public offering,\nwhich completed on September 29, 2025, at an initial offering price of US$4.00 per ordinary share. D. Boral Capital LLC was the representative\nof the underwriters.\n\n \n\nIn connection with the issuance and distribution of the ordinary shares in our initial\npublic offering, our expenses incurred and paid to others totaled approximately US$2.1 million,\nwhich included US$350,000 for underwriting discounts and commissions. None of the transaction expenses included direct or indirect payments\nto directors or officers of our Company or their associates, persons owning more than 10% or more of our equity securities or our affiliates\nor others. We received aggregate net proceeds of approximately US$2.9 million from our initial public offering.\n\n \n\nThe following “Use of Proceeds” information relates to the\nregistration statement on Form F-1 (File No. 333-292850), as amended, which was declared effective by the SEC on February 23, 2026, for\nour follow-on public offering of 20,750,000 Class A Ordinary Shares at a public offering price of US$0.40 per Class A Ordinary Share,\nwhich closed on February 27, 2026. D. Boral Capital LLC acted as the placement agent. We received aggregate gross proceeds of approximately\nUS$8.3 million. We received aggregate net proceeds of approximately US$7.6 million, after deducting offering expenses of approximately\nUS$0.7 million, which included US$581,000 for underwriting discounts. A portion of the net proceeds received from our follow-on public offering have been applied toward general corporate\npurposes, including working capital, operating expenses, and capital expenditures and we have earmarked the remaining portion of our net\nproceeds for the development of new products (including our Smart Farming System), business ventures and acquisitions, and general working\ncapital."}