$Fangdd Network (DUO.US)$Fangdd Announces Pricing of US$7.0 ...

SHENZHEN, China, Dec. 09, 2024 (GLOBE NEWSWIRE) -- Fangdd Network Group Ltd. (Nasdaq: DUO) (“FangDD” or the “Company”), a customer-oriented property technology company in China, today announced that it has entered into a securities purchase agreement with certain investors (the “Purchase Agreement”) for the issuance and sale by the Company of US$7.0 million of Class A ordinary shares (or pre-funded warrants in lieu thereof), at a price of US$0.7 per share (or US$0.6994375 per pre-funded warrant), in a registered direct offering.

The Purchase Agreement contains representations, warranties and other provisions customary for transactions of this nature. The offering is expected to close on or about December 10, 2024, subject to the satisfaction of customary closing conditions. FangDD intends to use the net proceeds from this offering for general corporate purposes.