back Back

China Finance Online announces $13.2m Private Placement of Ordinary Shares and Warrants

By Leandra Monteiro

December 28, 2021

  • China
  • China Finance Online
  • Derivatives
Share

China Finance OnlineChina Finance Online Co. Limited, a web-based financial services company that provides Chinese individual investors with FinTech-powered online access to securities trading services, wealth management products, securities investment advisory services, as well as financial database and analytics services to institutional customers, announced that it has entered into certain securities purchase agreements with certain accredited investors and the Company’s senior management persons for private placements of 110 million Company’s ordinary shares (or 2,200,000 ADS) for an aggregate consideration of $13.2 million at a per share price equals to $6.00 per ADS, each representing 50 ordinary shares of the Company.

In addition, pursuant to the securities purchase agreements, the Company will issue to the investors a warrant to purchase up to 110 million ordinary shares (or 2,200,000 ADS) in aggregate, at an exercise price equals to $7.60 per ADS. These warrants will be exercisable in whole or in part for 5 years, and subject to certain conditions and adjustments.

These transactions are subject to customary closing conditions, including shareholder’s approval, and the closings are expected to take place in the near future. The securities sold in the private placements have not been registered under the Securities Act of 1933, as amended, or state securities laws as of the time of issuance and may not be offered or sold in the United States absent registration with the Securities and Exchange Commission or an applicable exemption from such registration requirements. The investors agree to enter into a lock-up agreement for a lock-up period of 180 days from the closing. China Finance Online agrees to use commercially reasonable efforts to file a registration statement in connection with the ordinary shares issued in these transactions.

This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities, nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state.

Previous Article

December 28, 2021

QisstPay to be granted first-ever BNPL license in Pakistan

Read More
Next Article

December 28, 2021

Starling Bank survey states small businesses owners are confident for 2022

Read More






IBSi Daily News Analysis

June 21, 2024

China

Industry experts react after India FIU fines Binance $2.2m, signaling tougher digital asset regulations

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

June 20, 2024

Revolut partners GTN to bring bond trading to EEA customers

Read More

June 10, 2024

5 WealthTech platforms simplifying credit score tracking in India

Read More

June 07, 2024

MORS expands in UK & Netherlands with 2 new neobank clients

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023