SHENZHEN, China, July 8, 2021 /PRNewswire/ -- Meten EdtechX
Education Group Ltd. (NASDAQ: METX) (the
"Company"), one of the leading omnichannel English
language training ("ELT") service providers in China, today announced that the underwriter of
its previously announced underwritten public offering has
exercised, in partial, its option after purchasing an additional
2,000,000 ordinary shares at a price of $1.00 per ordinary share. Total gross proceeds to
the Company from the offering, including the funds received from
the prior closing and partial exercise of this option, are
$42 million, before deducting
underwriting discounts, commissions and other offering expenses
payable by the Company.
Aegis Capital Corp. acted as sole book-running manager for
the offering.
The securities described above were offered by Meten EdtechX
Education Group Ltd. pursuant to an effective registration
statement on Form F-3 (No. 333-256087) previously filed with the
U.S. Securities and Exchange Commission (the "SEC") on May 13, 2021 and declared effective by the SEC on
May 21, 2021. A final prospectus
(the "Prospectus") describing the terms of the offering has
been filed with the SEC and is available on the SEC's website
located at http://www.sec.gov. Electronic copies of the final
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 syndicate@aegiscap.com, or by telephone at (212)
813-1010.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any units, nor shall there be any
sales of the units 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.
Forward-looking Statements
This press release includes statements relating to the size of
the offering and the completion of the offering. These statements
and other statements regarding the Company's future plans and goals
constitute "forward-looking statements" within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934, and are intended to qualify for
the safe harbor from liability established by the Private
Securities Litigation Reform Act of 1995. Such statements are
subject to risks and uncertainties that are often difficult to
predict, are beyond our control, and which may cause results to
differ materially from expectations. For a discussion of the most
significant risks and uncertainties associated with the
Company's business, please review our filings with
the SEC. You are cautioned not to place undue reliance on
these forward-looking statements, which are based on our
expectations as of the date of this press release and speak only as
of the date of this press release. We undertake no obligation to
publicly update or revise any forward-looking statement, whether as
a result of new information, future events or otherwise.
About Meten EdtechX Education Group Ltd.
Meten EdtechX is one of the leading ELT service providers in
China, delivering English language
and skills training for Chinese students and professionals. Through
a sophisticated digital platform and a nationwide network of
learning centers, the Company provides its services under three
industry-leading brands: Meten (adult and junior ELT services), ABC
(primarily junior ELT services) and Likeshuo (online ELT). The
Company offers superior teaching quality and student satisfaction,
served by cutting edge technology deployed across its business,
including AI-driven centralized teaching and management systems
that record and analyze learning processes in real time. The
Company is committed to improving the overall English language
competence of the Chinese population to keep abreast of the rapid
development of globalization. Its experienced management is focused
on further developing its digital platform and expanding its
network of learning centers to deliver a continually evolving
service offerings to a growing number of students across
China.
For more information, please visit:
https://investor.metenedu-edtechx.com.
For more information, please contact Investor
Relations:
Ascent Investor Relations LLC
Tina Xiao
+1 917-609-0333
tina.xiao@ascent-ir.com
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SOURCE Meten EdtechX Education Group Ltd.