Meten EdtechX Education Group Ltd (METX)

[tw0122]

Meten Holding Group Prices $20 Million Registered Direct Offering of Ordinary Shares Priced At-the-Market Under Nasdaq Rules

Source: PR Newswire (US)
SHENZHEN, China, Nov. 10, 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 it has entered into definitive agreements with investors for the purchase and sale pursuant to a registered direct offering of ordinary shares. The purchase price of the ordinary shares was $0.60 per share and was priced at-the-market under Nasdaq rules. The gross proceeds of the offering will be approximately $20 million, before deducting placement agent fees and other estimated offering expenses. The Company intends to use the net proceeds for working capital and for other general corporate purposes. The closing of the registered direct offering is expected to take place on or about November 12, 2021, subject to the satisfaction of customary closing conditions.

Aegis Capital Corp. is acting as the exclusive placement agent for the Offering.