GUANGZHOU, China, June 30,
2022 /PRNewswire/ -- Onion Global Limited (NYSE: OG)
("Onion Global" or the "Company") today announced that to boost
shareholders' confidence, it has entered into a private share
repurchase agreement with a third party investor (the "Selling
Shareholder") on a privately negotiated basis. Under the terms of
the private share repurchase agreement, the Company shall purchase
and acquire 2,068,900 American depositary shares representing
206,890 Class A ordinary shares (the "Repurchase ADSs") from the
Selling Shareholder. The aggregate purchase price of the Repurchase
ADSs is US$10 million.
The closing of the private share repurchase is expected to occur
within three business days from June 29,
2022, subject to satisfaction of the closing conditions set
forth in the private share repurchase agreement.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy any securities, nor shall there be
any sale of the securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of such jurisdiction.
About Onion Global
Onion Global Limited (NYSE: OG) is a next-generation lifestyle
brand platform that incubates, markets and distributes the world's
fresh, fashionable and future brands, which we refer to as "3F
brands," to young people in China
and across Asia. The Company's
mission is to be the dream factory of lifestyle brands for young
people. The Company's platform offers an integrated solution to
develop, market and distribute new and inspiring branded products,
thereby reshaping the lifestyle shopping and consumer culture in
China. Onion Global Limited has
been listed on New York Stock Exchange since May 2021.
Safe Harbor Statement
This press release contains forward-looking statements.
These statements are made under the "safe harbor" provisions of the
U.S. Private Securities Litigation Reform Act of 1995. Statements
that are not historical facts, including statements about the
completion of the private placement, the satisfaction of customary
closing conditions related to the private placement, the intended
use of net proceeds from the private placement, as well as the
Company's beliefs and expectations, the Company's forecasts,
general observation of the industry and business outlook, are
forward-looking statements. Forward-looking statements involve
inherent risks and uncertainties and a number of factors could
cause actual results to differ materially from those contained in
any forward-looking statement, including market and other
conditions. In some cases, forward-looking statements can be
identified by terminology such as "may," "will," "expects,"
"anticipates," "target," "aim," "future," "intends," "plans,"
"believes," "potential," "estimates" "continue," "is/are likely
to," or other similar statements. Further information regarding
these and other risks is included in Onion Global's filings with
the SEC. All information provided in this press release and in the
attachments is as of the date of this press release, and Onion
Global does not undertake any obligation to update any
forward-looking statement, except as required under applicable
For more information, please
Investor Relations Contact
Onion Global Ltd.
Mr. Eric Yuan
In the United States:
Ms. Linda Bergkamp
SOURCE Onion Global Limited