Forward-looking statements involve inherent risks and uncertainties. Among other things, statements that are not historical facts, including statements about the Company’s beliefs and expectations are or contain forward-looking statements. 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. Private Securities Litigation Reform Act of 1995. These statements are made under the “safe harbor” provisions of the U.S. This announcement contains forward-looking statements. 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. (Nasdaq: DUO) is a leading property technology company in China, operating one of the largest online real estate marketplaces in the country.
#Fangdd registration#
The sale and issuance of the Note (and the Class A Ordinary Shares upon conversion of the Note) and the class C ordinary shares are exempt from registration under the Securities Act of 1933, as amended (the “Securities Act”) pursuant to Section 4(2) of the Securities Act regarding transactions not involving a public offering and is made in reliance on, and in compliance with, Regulation D and/or Regulation S under the Securities Act, as applicable.įangdd Network Group Ltd.
Additional information regarding the Subscription Agreement will be included in a Form 6-K to be filed by FangDD with the SEC. The per share purchase price will be calculated based on the average closing price of the Company’s ADSs for the 30 trading days prior to the closing notice date and adjusted by the ADS-to-share ratio. Xi Zeng, the chairman of the board of directors and chief executive officer of the Company, if the Company receives a conversion notice from the Note holder. To maintain a stable corporate structure following the potential conversion of the Note, the Company has entered into a share subscription agreement, under which the Company has agreed to sell and issue up to 7,875,000 class C ordinary shares of the Company with the same rights, privileges and restrictions approved by the board of directors on Novemto ZX INTERNATIONAL LTD, a British Virgin Islands company controlled by Mr. Securities and Exchange Commission (the “SEC”). Additional information regarding the private placement and the Note will be included in a Form 6-K to be filed by FangDD with the U.S. The Note shall be an unsecured general obligation of the Company.
#Fangdd plus#
Unless previously converted, the Company shall repay the outstanding principal amount plus all accrued but unpaid interest on the maturity date. Each ADS currently represents 375 Class A Ordinary Shares. At any time after the issuance and before the maturity date, the Note is convertible, in whole but not in part, into class A ordinary shares of the Company (the “Class A Ordinary Shares”) at the option of the holder thereof at a price equal to 64% of the higher of the following (adjusted by the ADS-to-share ratio): (i) the average closing price of the Company’s American depositary shares (the “ADSs”) for the last 5 days preceding the date of the conversion notice and (ii) US$0.47. At the Company’s option, the term of the Note may be extended to a period no more than 364 days. The Note will mature in six months following the issuance, bearing interest at the rate of 8% per annum which shall be payable on the maturity date. The closing of the transactions is subject to the satisfaction of customary closing conditions and is expected to take place in February 2023. (Nasdaq: DUO) (“FangDD” or the “Company”), a leading property technology company in China, today announced that it had entered into a convertible note purchase agreement, under which the Company will sell and issue a convertible promissory note in a principal amount of US$21 million (the “Note”) to an investor through private placement. 13, 2023 (GLOBE NEWSWIRE) - Fangdd Network Group Ltd.
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