MAAS Announces A Private Placement of Class A Ordinary Shares and Warrants

About this update from Maase Inc.

[{"type":"text","content":"CHENGDU, China, July 03, 2025 (GLOBE NEWSWIRE) -- Maase Inc. (NASDAQ: MAAS) (“MAAS” or the “Company”) today announced the execution of a definitive share purchase agreement (the “Agreement”) with certain investors, pursuant to which the investors have agreed to subscribe for, and the Company has agreed to issue and sell to the investors, (i) an aggregate of 10,000,000 Class A ordinary shares, par value US$0.09 per share, of the Company, at a purchase price of $2.08 per share (the “Per Share Purchase Price”) (the “Share Issuance”), and (ii) warrants to purchase up to 20,000,000 additional Class A ordinary shares of the Company. The transaction is expected to generate approximately $21 million in gross proceeds from the Share Issuance. The exercise price of the warrants is structured in two tranches: 50% of the warrants are exercisable at 200% of the Per Share Purchase Price, with the remaining 50% exercisable at 250%. Upon the closing of the Share Issuance, the Company will have a total of 25,917,241 ordinary shares outstanding, consisting of 19,250,573 Class A ordinary shares and 6,666,668 Class B ordinary shares. Upon closing of the Share Issuance, the largest investor in this transaction is expected to hold approximately 19.29% of the Company’s total outstanding ordinary shares, representing 0.73% of the total voting power due to the Company’s dual-class share structure, assuming no exercise of the warrants. The transaction is expected to close by the end of July 2025, subject to the satisfaction of customary closing conditions. The Company intends to use the net proceeds to support the execution of its business plans as determined by its board of directors, to augment general working capital, and for other general corporate purposes. The Class A ordinary shares are being issued and sold in a private placement pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended (the “Securities Act”), which have not been registered under the Securities Act or applicable state securities laws and may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities described herein, nor shall there be any sale of these secu...

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