FangDD (DUO) Raises Fresh Capital: Inside the $5M Convertible Notes Deal Terms
Summary
SHENZHEN, China, Feb. 11, 2025 (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 offering by the Company of (i) senior original issue discount convertible promissory notes in an aggregate principal amount of US (the Notes), (ii) Class A ordinary shares, par value US 05625 per share, issuable from time to time upon conversion under the Notes, and (iii) additional 164,610 Class A ordinary shares in connection with the issuance of the Notes.The Notes carry a original issue discount, and have a term of nine months from the original issuance date. FangDD intends to use the net proceeds from this offering for general corporate purposes.The Company has engaged MM Global Securities, Inc. as its exclusive placement agent in connection with this offering.The securities described above will be offered by the Company pursuant to an effective shelf registration statement on Form F-3 (File No. The foregoing description of the Purchase Agreement and the Notes is qualified in its entirety by reference to the full text of such agreements furnished as exhibits to a current report on Form 6-K to be furnished by the Company to the SEC.This press release shall not constitute an offer to sell nor the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.Fangdd Network Group Ltd. (Nasdaq: DUO) is a customer-oriented property technology company in China, focusing on providing real estate transaction digitalization services. Through innovative use of mobile internet, cloud, big data, artificial intelligence, among others, FangDD has fundamentally revolutionized the way real estate transaction participants conduct their business through a suite of modular products and solutions powered by SaaS tools, products and technology. 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.