FangDD Announces Pricing of US$4.5 Million Registered Direct Offering
October 10 2024 - 2:05PM
Fangdd Network Group Ltd. (Nasdaq: DUO) (“FangDD” or the
“Company”), a customer-oriented property technology company in
China, today announced that it has entered into a securities
purchase agreement with certain investors (the “Purchase
Agreement”) for the issuance and sale by the Company of US$4.5
million of Class A ordinary shares (or pre-funded warrants in lieu
thereof), at a price of US$0.88 per share (or US$0.8794375 per
pre-funded warrant), in a registered direct offering.
The Purchase Agreement contains representations,
warranties and other provisions customary for transactions of this
nature. The offering is expected to close on or about October 11,
2024, subject to the satisfaction of customary closing conditions.
FangDD intends to use the net proceeds from this offering for
general corporate purposes.
The Company has engaged MM Global Securities,
Inc. as its exclusive placement agent in connection with this
offering.
The securities described above will be offered
by the Company pursuant to an effective “shelf” registration
statement on Form F-3 (File No. 333-267397) previously filed with
the United States Securities and Exchange Commission (the “SEC”) on
September 13, 2022 and declared effective by the SEC on September
29, 2022. The securities may be offered only by means of a written
prospectus and prospectus supplement that form a part of the
registration statement. The prospectus supplement and accompanying
base prospectus contain important information relating to the Class
A ordinary shares and pre-funded warrants to be sold in the
offering. The prospectus supplement will be filed with the SEC and
will be available on the SEC’s website at http://www.sec.gov, or
may be obtained, when available, by contacting us at Room 1501,
Shangmei Technology Building, No. 15 Dachong Road, Nanshan
District, Shenzhen, the PRC, or by email at ir@fangdd.com.
This press release shall not constitute an offer
to sell nor 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 the
registration or qualification under the securities laws of any such
state or jurisdiction.
About FangDD
Fangdd Network Group Ltd. (Nasdaq: DUO) is a
customer-oriented property technology company in China, focusing on
providing real estate transaction digitalization services. Through
innovative use of mobile internet, cloud, big data, artificial
intelligence, among others, FangDD has fundamentally revolutionized
the way real estate transaction participants conduct their business
through a suite of modular products and solutions powered by SaaS
tools, products and technology. For more information, please visit
http://ir.fangdd.com.
Safe Harbor Statement
This announcement contains forward-looking
statements. These statements are made under the “safe harbor”
provisions of the U.S. Private Securities Litigation Reform Act of
1995. These forward-looking statements can be identified by
terminology such as “aim,” “anticipate,” “believe,” “estimate,”
“expect,” “hope,” “going forward,” “intend,” “ought to,” “plan,”
“project,” “potential,” “seek,” “may,” “might,” “can,” “could,”
“will,” “would,” “shall,” “should,” “is likely to” and the negative
form of these words and other similar expressions. Among other
things, statements that are not historical facts, including
statements about the Company’s beliefs and expectations are or
contain forward-looking statements. Forward-looking statements
involve inherent risks and uncertainties. A number of factors could
cause actual results to differ materially from those contained in
any forward-looking statement. All information provided in this
press release is as of the date of this press release and is based
on assumptions that the Company believes to be reasonable as of
this date, and the Company does not undertake any obligation to
update any forward-looking statement, except as required under
applicable law.
Investor Relations Contact
Ms. Linda LiDirector, Capital Markets DepartmentPhone:
+86-0755-2699-8968E-mail: ir@fangdd.com
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