FangDD Announces US$620,800 Registered Direct Offering of American Depositary Shares
02 March 2023 - 10:30PM
Fangdd Network Group Ltd. (Nasdaq: DUO) (“FangDD” or the
“Company”), a leading property technology company in China, today
announced that it has entered into securities purchase agreements
with certain investors (the “Purchase Agreements”) for the issuance
and sale by the Company of an aggregate of 1,000,000 American
depositary shares (“ADSs”), each representing 375 Class A ordinary
shares of the Company, at a purchase price of US$0.6208 per ADS, in
a registered direct offering.
Each Purchase Agreement contains
representations, warranties and other provisions customary for
transactions of this nature. Subject to the satisfaction of
customary closing conditions, the Company currently anticipates
that the closings of the transactions contemplated by the Purchase
Agreements will take place in March 2023. FangDD intends to use the
net proceeds from this offering for general corporate purposes.
Additional information regarding this offering and the Purchase
Agreements will be included in a Form 6-K to be filed by FangDD
with the U.S. Securities and Exchange Commission (the “SEC”).
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 SEC on September 13, 2022 and declared effective by the SEC on
September 29, 2022. The securities may be offered only by means of
a written prospectus and prospectus supplement that form a part of
the registration statement. The prospectus supplement and
accompanying prospectus contain important information relating to
the ADS offering. The prospectus supplement will be filed with the
SEC and will be made available on the SEC’s website at
http://www.sec.gov, or may be obtained, when available, by
contacting us at Room 602, Unit B4, Kexing Science Park, 15 Keyuan
Road, Technology Park, Nanshan District, Shenzhen, the PRC, or by
email at ir@fangdd.com.
This press release shall not constitute an offer
to sell nor 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 the
registration or qualification under the securities laws of any such
state or jurisdiction.
About FangDD
Fangdd Network Group Ltd. (Nasdaq: DUO) is a
leading property technology company in China, operating one of the
largest online real estate marketplaces in the country. Through
innovative use of mobile internet, cloud, big data, artificial
intelligence, among others, FangDD has fundamentally revolutionized
the way real estate transaction participants conduct their business
through a suite of modular products and solutions powered by SaaS
tools, products and technology. For more information, please visit
http://ir.fangdd.com.
Safe Harbor Statement
This announcement contains forward-looking
statements. These statements are made under the “safe harbor”
provisions of the U.S. Private Securities Litigation Reform Act of
1995. These forward-looking statements can be identified by
terminology such as “aim,” “anticipate,” “believe,” “estimate,”
“expect,” “hope,” “going forward,” “intend,” “ought to,” “plan,”
“project,” “potential,” “seek,” “may,” “might,” “can,” “could,”
“will,” “would,” “shall,” “should,” “is likely to” and the negative
form of these words and other similar expressions. Among other
things, statements that are not historical facts, including
statements about the Company’s beliefs and expectations are or
contain forward-looking statements. Forward-looking statements
involve inherent risks and uncertainties. A number of factors could
cause actual results to differ materially from those contained in
any forward-looking statement. All information provided in this
press release is as of the date of this press release and is based
on assumptions that the Company believes to be reasonable as of
this date, and the Company does not undertake any obligation to
update any forward-looking statement, except as required under
applicable law.
Investor Relations Contact
Ms. Linda LiDirector, Capital Markets DepartmentPhone:
+86-0755-2699-8968E-mail: ir@fangdd.com
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