HONG KONG, Sept. 5, 2018 /PRNewswire/ -- The9 Limited
(Nasdaq: NCTY) (the "Company" or "The9"), an established Internet
company, today announced that it has signed a definitive agreement
with Plutux Limited, a company incorporated in Gibraltar ("Plutux"), and a shareholder of
Plutux ("Participating Shareholder") for the issuance and sale of
21,000,000 ordinary shares (which equals to 7,000,000 American
Depositary Shares) of the Company, par value of US$0.01, to the Participating Shareholder at
US$0.714 per ordinary share (which
equals to US$2.14 per American
Depositary Share), in exchange for a minority equity interest in
Plutux as consideration (the "Transaction"). The completion of the
Transaction is subject to customary closing conditions.
About The9 Limited
The9 Limited is an Internet company based in China. The9 has stepped into
blockchain-related business. The9 also develops and/or operates its
proprietary mobile games including the CrossFire New Mobile Games,
Audition mobile, Fashion Pop and Q Jiang San Guo.
About Plutux
Plutux is an exchange that allows cryptocurrency to
cryptocurrency trading in a mobile centric environment that stays
ahead of the industry through micro innovations. Their core
offerings include advanced trade orders, algorithmic trading
strategies, academy, contests, activity campaigns and referral
programs. The founding team is primarily comprised of alumni from
Harborx (a licensed forex brokerage that has been sold), STI
Financial Group (a Hong Kong
investment and hedge fund management group), and Green Tomato (one
of Hong Kong's leading innovation
consultancy) and have top-in-class exchange operations, business
development, investment, quantitative trading, mobile application
development, and regulatory licensing experiences.
View original
content:http://www.prnewswire.com/news-releases/the9-limited-announces-share-exchange-transaction-300706787.html
SOURCE The9 Limited