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.
Aegis Capital Corp. is acting as the sole book-running
manager for the Offering.
The 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
syndicate@aegiscap.com, 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.
This press release shall not constitute an offer to sell or 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 registration or
qualification under the securities laws of any such state or
jurisdiction.
About Meten Holding Group Ltd.
Meten Holding Group Ltd., formerly known as Meten EdtechX
Education Group Ltd., 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.
Forward-Looking Statements
This announcement contains forward-looking statements within the
meaning of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. All statements other than statements
of historical fact in this announcement are forward-looking
statements, including the closing of the Offering. These
forward-looking statements involve known and unknown risks and
uncertainties and are based on current expectations and projections
about future events and financial trends that the Company believes
may affect its financial condition, results of operations, business
strategy and financial needs. Investors can identify these
forward-looking statements by words or phrases such as "may,"
"will," "expect," "anticipate," "aim," "estimate," "intend,"
"plan," "believe," "potential," "continue," "is/are likely to" or
other similar expressions. The Company undertakes no obligation to
update forward-looking statements to reflect subsequent occurring
events or circumstances, or changes in its expectations, except as
may be required by law. Although the Company believes that the
expectations expressed in these forward-looking statements are
reasonable, it cannot assure you that such expectations will turn
out to be correct, and the Company cautions investors that actual
results may differ materially from the anticipated results.
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 Holding Group Ltd.