Meten EdtechX Prices $40 Million Underwritten Public Offering of Ordinary Shares
Meten Holding Group Ltd. - Ordinary Shares (METX)
Company Research
Source: GlobeNewswire
SHENZHEN, China, May 24, 2021 (GLOBE NEWSWIRE) -- Meten EdtechX Education Group Ltd. (“Meten Edtech X” or the “Company”) (NASDAQ: METX), one of the leading omnichannel English language training (“ELT”) service providers in China, today announced the pricing of an underwritten public offering with gross proceeds to the Company expected to be approximately $40 million, before deducting underwriting discounts and commissions and other estimated offering expenses payable by the Company. The public offering equates to 40,000,000 of the Company’s ordinary shares at a price of $1.00 per share. The Company intends to use the net proceeds from this offering for working capital and general corporate purposes. The closing of the offering is expected to occur on May 26, 2021, subject to customary closing conditions. The Company has also granted the underwriter a 45-day option to purchase up to an additional 15% of the number of ordinary shares offered in the public offering to cover over-allot
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