FangDD Announces Pricing of US$4.5 Million Registered Direct Offering

Core Viewpoint - Fangdd Network Group Ltd. has announced a securities purchase agreement for the issuance and sale of US$4.5 million of Class A ordinary shares at a price of US$0.88 per share, expected to close around October 11, 2024 [1] Group 1: Offering Details - The offering involves the issuance of US$4.5 million in Class A ordinary shares or pre-funded warrants, priced at US$0.88 per share or US$0.8794375 per pre-funded warrant [1] - The offering is subject to customary closing conditions and is expected to close on or about October 11, 2024 [1] - The net proceeds from the offering will be used for general corporate purposes [1] Group 2: Placement Agent - Fangdd has engaged MM Global Securities, Inc. as its exclusive placement agent for this offering [2] Group 3: Registration 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 4: 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]