FangDD Secures US$5 Million in Registered Direct Offering
SHENZHEN, China, Oct. 04, 2024 — Fangdd Network Group Ltd. (Nasdaq: DUO), a Chinese property technology company focused on customer satisfaction, announced today it has entered into a securities purchase agreement with certain investors (the “Purchase Agreement”). This agreement covers the issuance and sale by the Company of up to 3,125,000 Class A ordinary shares (or pre-funded warrants in lieu thereof), priced at US$1.60 per share (or US$1.5994375 per pre-funded warrant), in a registered direct offering.
The Purchase Agreement includes customary representations, warranties, and provisions for transactions of this nature. The offering is expected to close around October 7, 2024, subject to standard closing conditions. FangDD intends to use the net proceeds from this offering for general corporate purposes.
The Company has appointed MM Global Securities, Inc. as its exclusive placement agent for this offering.
The securities described above will be offered by the Company under an effective “shelf” registration statement on Form F-3 (File No. 333-267397) previously submitted to the United States Securities and Exchange Commission (the “SEC”) on September 13, 2022 and declared effective by the SEC on September 29, 2022. These securities can only be offered through a written prospectus and prospectus supplement that are part of the registration statement. The prospectus supplement and accompanying base prospectus include important information about the Class A ordinary shares and pre-funded warrants to be sold in the offering. The prospectus supplement will be filed with the SEC and will be available on the SEC’s website at http://www.sec.gov, or can be obtained, when available, by contacting us at Room 1501, Shangmei Technology Building, No. 15 Dachong Road, Nanshan District, Shenzhen, the PRC, or by email at ir@fangdd.com.
This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor will there be any sale of these securities in any state or jurisdiction where such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About FangDD
Fangdd Network Group Ltd. (Nasdaq: DUO) is a customer-oriented property technology company in China, focusing on providing real estate transaction digitalization services. By innovatively using mobile internet, cloud, big data, artificial intelligence, and other technologies, FangDD has fundamentally changed how 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 Li
Director, Capital Markets Department
Phone: +86-0755-2699-8968
E-mail: ir@fangdd.com