The9 Signed a Legally Binding Term Sheet to Acquire a Leading AIGC Driven Digital Human SaaS Platform ShenMa [Yahoo! Finance]
The9 Limited - American Depository Shares (NCTY)
US:NASDAQ Investor Relations:
the9.com/en/stockinformation.html
Company Research
Source: Yahoo! Finance
a legally binding term sheet (the "Term Sheet") with Shenma Limited ("Shenma" to purchase 51% shares of Shenma by cash and issuance of The9's restricted shares. Pursuant to the Term Sheet, The9 will pay cash consideration of US$1 million and will issue restricted Class A ordinary shares to Shenma or its shareholders with the value of US$14.3 million . The value of each share will be determined by the average closing price of The9 's American depositary shares ("ADS"), each representing 300 Class A ordinary shares of The9, for a period of 20 trading days prior to the signing of the definitive agreement. The restricted Class A ordinary shares t o be issued to Shenma will be subject to lock-up conditions and will only be released according to the following schedule: (i) when the market capitalization of The9 reaches US$200 million , 33,938,400 Class A ordinary shares (equivalent to 113,128 ADSs) of The9 will be released from the lock-up; (ii) when the market capitalization of The9 reache
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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