The9 Limited Announces the Settlement Deed for its Convertible Notes
The9 Limited - American Depository Shares (NCTY)
US:NASDAQ Investor Relations:
the9.com/en/stockinformation.html
Company Research
Source: PR Newswire
SHANGHAI, June 2, 2020 /PRNewswire/ -- The9 Limited (Nasdaq: NCTY) ("The9" or the "Company"), an established Internet company, today announced that The9 and Splendid Days Limited, the holder of the senior convertible notes issued and sold by the Company in December 2015 (the "Convertible Notes"), and other relevant parties have entered into a settlement deed primarily relating to Convertible Notes repayment (the "Settlement Deed"). Pursuant to the Settlement Deed, the interest rate on the Convertible Notes was retrospectively lowered from 12% to 7% per annum for the period commencing from the original Convertible Notes issuance date till February 21, 2020, the date on which interest stopped to accrue on the Convertible Notes. The9 has settled a portion of the total outstanding amount of the Convertible Notes by cash and will further settle the remaining portion by an initial issuance of 32,400,000 Class A ordinary shares (equivalent to 10,800,000 ADSs) to the Splendid Days Limited. Th
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NCTY
Sec Filings
- 4/23/24 - Form 6-K
- 4/15/24 - Form 20-F
- 3/26/24 - Form 6-K
- NCTY's page on the SEC website