Meten EdtechX Announces Proposed Underwritten Public Offering of Ordinary Shares
May 21 2021 - 8:00PM
Meten EdtechX Education Group Ltd. (“Meten Edtech X” or the
“Company”) (NASDAQ: METX), one of the leading omnichannel English
language training (“ELT”) service providers in China, today
announced that it intends to offer ordinary shares for sale to the
public in an underwritten public offering (“Offering”). The Company
intends to use the net proceeds from this offering for general
corporate and working capital needs. The ordinary shares are
trading on The Nasdaq Capital Market under the symbol “METX.” The
Offering is subject to market conditions, and there can be no
assurance as to whether or when the Offering may be completed, or
as to the actual size or terms of the Offering.
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
preliminary prospectus supplement and accompanying prospectus
describing the terms of the 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 preliminary 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 such 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 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.
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 LLCTina Xiao+1
917-609-0333tina.xiao@ascent-ir.com
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