Business
Meten Holding Group Prices $20 Million Registered Direct Offering of Ordinary Shares Priced At-the-Market Under Nasdaq Rules
SHENZHEN, China, Nov. 10, 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. 10, 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 has entered into definitive agreements with investors for the purchase and sale pursuant to a registered direct offering of ordinary shares. The purchase price of the ordinary shares was $0.60 per share and was priced at-the-market under Nasdaq rules. 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 for working capital and for other general corporate purposes. The closing of the registered direct offering is expected to take place on or about November 12, 2021, subject to the satisfaction of customary closing conditions.\nAegis Capital Corp. is acting as the exclusive placement agent for the Offering.\nThis offering is being made pursuant to an effective shelf registration statement on Form F-3 (File No. 333-256087) previously filed with the U.S. Securities and Exchange Commission (the \"SEC\"). A prospectus supplement describing the terms of the proposed offering will be filed with the SEC and will be available on the SEC's website located at http://www.sec.gov. Electronic copies of the final prospectus supplement and the accompanying prospectus may be obtained, when available, 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. Before investing in this Offering, interested parties should read in their entirety the prospectus supplement and the accompanying prospectus and the other documents that the Company has filed with the SEC that are incorporated by reference in such prospectus supplement and the accompanying prospectus, which provide more information about the Company and the Offering.\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....