Business
Meten Holding Group Prices $60 Million Underwritten Public Offering of Ordinary Shares and Pre-Funded Warrants to Purchase Ordinary Shares
SHENZHEN, China, Sept. 1, 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, Sept. 1, 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 the pricing of an underwritten public offering of ordinary shares and pre-funded warrants to purchase ordinary shares (\"Offering\"), with gross proceeds to the Company expected to be approximately $60 million, before deducting underwriting discounts and commissions and other estimated expenses payable by the Company. The Offering equates to 200,000,000 of the Company's ordinary shares at a price of $0.30 per share. The pre-funded warrants shall be offered at the same price per share as the ordinary shares, less the $0.01 per share exercise price of each pre-funded warrant. The Company intends to use the net proceeds from this Offering for capital expenditure, general corporate and working capital needs. The ordinary shares are trading on The Nasdaq Capital Market under the symbol \"METX\". The closing of the Offering is expected to occur on September 7, 2021, subject to customary closing conditions.\nAegis Capital Corp. is acting as the sole book-running manager for the Offering.\nThe Offering is being 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 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 r...