Business
Meten Holding Group Ltd. Closes $20 Million Registered Direct Offering of Ordinary Shares Priced At-the-Market Under Nasdaq Rules
SHENZHEN, China, Nov. 12, 2021 /PRNewswire/ -- Meten Holding Group Ltd. ("Meten Holding" or the "Company") (NASDAQ: METX), one of the leading omnichannel
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[{"type":"text","content":"SHENZHEN, China, Nov. 12, 2021 /PRNewswire/ -- Meten Holding Group Ltd. (\"Meten Holding\" or the \"Company\") (NASDAQ: METX), one of the leading omnichannel English language training (\"ELT\") service providers in China, today announced it closed its previously announced registered direct offering. The purchase price of the ordinary shares was $0.60 per ordinary share. The gross proceeds of the offering will be approximately $20 million, before deducting placement agent fees and other estimated offering expenses. The Company intends to use the net proceeds from this Offering for capital expenditures and general corporate and working capital needs. \nAegis Capital Corp. acted as the exclusive placement agent for the Offering.\nThe Offering was made pursuant to an effective shelf registration statement on Form F-3 (No. 333-256087) previously filed with the U.S. Securities and Exchange Commission (the \"SEC\") and declared effective by the SEC on May 21, 2021. A final prospectus supplement and accompanying prospectus describing the terms of the Offering have been filed with the SEC and are available on the SEC's website located at http://www.sec.gov. Electronic copies of the final prospectus supplement and accompanying prospectus may be obtained by contacting Aegis Capital Corp., Attention: Syndicate Department, 810 7th Avenue, 18th floor, New York, NY 10019, by email at [email protected], or by telephone at (212) 813-1010. \nThis press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.\nAbout Meten Holding Group Ltd.\nMeten Holding Group Ltd., formerly known as Meten EdtechX Education Group Ltd., is an English Language Training (ELT) service provider in China, delivering English language and skills training for Chinese students and professionals. Through a sophisticated digital platform and a nationwide network of learning centers, the Company provides its services under three industry-leading brands: Meten (adult and junior ELT services), ABC (primarily junior ELT services) and Likeshuo (online ELT). The Company offers superior teaching quality and student s...