TuanChe Announces Pricing of $1.1 Million Registered Direct Offering and Concurrent Private Placement

Core Viewpoint - TuanChe Limited has entered into a definitive agreement for the purchase and sale of 761,719 American Depositary Shares (ADSs) with a single institutional investor, alongside a concurrent private placement of unregistered warrants to purchase the same number of ADSs at an effective offering price of $1.449 per ADS [1]. Group 1: Transaction Details - The transaction involves the issuance of 761,719 ADSs and warrants, with the combined effective offering price set at $1.449 per ADS [1]. - The private placement warrants will be immediately exercisable, expiring five years from issuance, with an exercise price of $1.449 per share [1]. - The transaction is expected to close on or about October 28, 2024, pending customary closing conditions [1]. Group 2: Regulatory Information - Maxim Group LLC is acting as the exclusive Placement Agent for this offering [2]. - The registered direct offering is made under an effective shelf registration statement previously filed with the SEC, and the offering will be conducted via a prospectus supplement [2]. - The warrants and ADSs are offered in a private placement under Section 4(a)(2) of the Securities Act of 1933 and have not been registered under the Act or applicable state securities laws [2]. Group 3: Company Overview - TuanChe Limited, founded in 2010, is a leading integrated automotive marketplace in China, connecting automotive consumers with industry players such as automakers and dealers [4]. - The company provides automotive marketing and transaction-related services by integrating online platforms with offline sales events, facilitating large-scale collective purchase activities [4]. - TuanChe leverages proprietary data analytics and advanced digital marketing systems to enhance the efficiency and effectiveness of advertising placements for its industry customers [4].