SHENZHEN, China, Sept. 7,
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 closing of an
underwritten public offering (the "Offering") with gross proceeds
to the Company of $60 million, before
deducting underwriting discounts and commissions and other
estimated offering expenses payable by the Company. The Offering
included 22,500,000 of the Company's ordinary shares at the public
offering price of $0.30 per share and
177,500,000 pre-funded warrants. The pre-funded warrants were
offered at the public offering price of $0.2999 per share, with a $0.0001 per
share exercise price for each pre-funded warrant. The Company
intends to use the net proceeds from this Offering for capital
expenditures and general corporate and working capital needs.
Aegis Capital Corp. acted as the sole book-running manager
for the Offering.
The Offering was 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 Offering have been filed
with the SEC and are available on the SEC's website located at
http://www.sec.gov. Electronic copies of the final prospectus
supplement and accompanying prospectus may be obtained 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 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. 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.