SHENZHEN, China, Feb. 10, 2021 /PRNewswire/ -- TD Holdings,
Inc. (Nasdaq: GLG) (the "Company"), a commodities trading
service provider in China, today announced the closing of
a private placement of 15,000,000 shares of its common stock to the
Company's chief executive officer and chairwoman, Ms. Renmei Ouyang, and a significant shareholder,
Mr. Shuxiang Zhang for gross
proceeds of $24,450,000. Each share
of common stock is being sold at a purchase price of $1.63, which is the closing bid price on the day
immediately prior to execution of the securities purchase
agreement.
The Company expects to use the net proceeds of the offering for
general corporate purposes, working capital, or other related
business as approved by the board of directors of the Company. The
shares were issued in reliance upon
an exemption from the registration requirements pursuant to
Regulation S of the Securities Act of 1933, as amended, and the
affiliated investors do not have any registration rights pursuant
to the Securities Purchase Agreement by and among the Company and
the affiliated shareholders.
Ms. Renmei Ouyang, CEO and
chairwomen of the Company commented, "The completion of this
offering represents management and significant shareholder's
confidence in the Company's future. We believe this financing
positions the Company well for transitioning from traditional
commodities trading and supply chain management services to digital
technology driven trading services which could potentially
transform the transaction, settlement and logistics models of
commodity trading, and to greatly improve our operating efficiency
and cash liquidity for our corporate clients."
About TD Holdings, Inc.
TD Holdings, Inc. is a service provider currently engaging in
commodity trading business and supply chain service business in
China. Its commodities trading
business primarily involves purchasing non-ferrous metal product
from upstream metal and mineral suppliers and then selling to
downstream customers. Its supply chain service business primarily
has served as a one-stop commodity supply chain service and digital
intelligence supply chain platform integrating upstream and
downstream enterprises, warehouses, logistics, information, and
futures trading. For more information please
visit http://ir.tdglg.com.
Safe Harbor Statement
This press release may contain certain "forward-looking
statements" relating to the business of TD Holdings,
Inc. and its subsidiary companies. All statements, other than
statements of historical fact included herein are "forward-looking
statements." These forward-looking statements are often identified
by the use of forward-looking terminology such as "believes,"
"expects" or similar expressions, involve known and unknown risks
and uncertainties. Although the Company believes that the
expectations reflected in these forward-looking statements are
reasonable, they do involve assumptions, risks and uncertainties,
and these expectations may prove to be incorrect. The
following factors, among others, could cause actual results to
differ materially from those described in these forward-looking
statements: there is uncertainty about the spread of the COVID-19
virus and the impact it will have on the Company's operations, the
demand for the Company's products and services, global supply
chains and economic activity in general. Investors should not place
undue reliance on these forward-looking statements, which speak
only as of the date of this press release. Investors should
not place undue reliance on these forward-looking statements, which
speak only as of the date of this press release. The Company's
actual results could differ materially from those anticipated in
these forward-looking statements as a result of a variety of
factors, including those discussed in the Company's periodic
reports that are filed with the Securities and Exchange
Commission and available on its website
at http://www.sec.gov. All forward-looking statements
attributable to the Company or persons acting on its behalf are
expressly qualified in their entirety by these factors. Other than
as required under the securities laws, the Company does not assume
a duty to update these forward-looking statements.
For more information, please contact:
Investor Relations:
Dong
Cao
EverGreen Consulting Inc.
Email: IR@changqingconsulting.com
Phone: +86 13502048965
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SOURCE TD Holdings, Inc.