FangDD Announces Pricing of US$5.0 Million Registered Direct Offering

Core Viewpoint - Fangdd Network Group Ltd. has announced a securities purchase agreement for the issuance of up to 3,125,000 Class A ordinary shares at a price of US$1.60 per share, aiming to close the offering around October 7, 2024, for general corporate purposes [1]. Group 1: Offering Details - The offering involves the sale of up to 3,125,000 Class A ordinary shares or pre-funded warrants at a price of US$1.60 per share [1]. - The offering is expected to close on or about October 7, 2024, subject to customary closing conditions [1]. - MM Global Securities, Inc. has been engaged as the exclusive placement agent for this offering [2]. Group 2: Regulatory Information - The securities will be offered under an effective "shelf" registration statement on Form F-3, previously filed with the SEC on September 13, 2022, and declared effective on September 29, 2022 [3]. - A written prospectus and prospectus supplement will be available, containing important information regarding the Class A ordinary shares and pre-funded warrants [3]. Group 3: Company Overview - Fangdd Network Group Ltd. is a property technology company in China, focusing on real estate transaction digitalization services [5]. - The company utilizes mobile internet, cloud, big data, and artificial intelligence to revolutionize real estate transactions through a suite of modular products and SaaS tools [5].