SHENZHEN, China, Oct. 01, 2024 (GLOBE NEWSWIRE) -- Fangdd Network Group Ltd. (NASDAQ:DUO) ("FangDD" or the "Company"), a customer-oriented property technology company in China, today announced that it has entered into a securities purchase agreement with certain investors (the "Purchase Agreement") for the issuance and sale by the Company of 1,612,902 Class A ordinary shares ("Class A Ordinary Shares"), at a price of US$1.55 per share, in a registered direct offering.
The Purchase Agreement contains representations, warranties and other provisions customary for transactions of this nature. The offering is expected to close on or about October 2, 2024, subject to the satisfaction of customary closing conditions. FangDD intends to use the net proceeds from this offering for general corporate purposes.
The Company has engaged MM Global Securities, Inc. as its exclusive placement agent in connection with this offering.
The securities described above will be offered by the Company pursuant to an effective "shelf" registration statement on Form F-3 (File No. 333-267397) previously filed with the United States Securities and Exchange Commission (the "SEC") on September 13, 2022 ...
