The9 Limited Announces $8 million Strategic Investment

On April 1st, according to official news, Nasdaq-listed Internet company The9 Limited announced the signing of a private placement agreement with cryptocurrency investment funds Elune Capital, Fine Vision Fund and Bripheno Pte. Ltd. According to the agreement, investors will inject 8 million US dollars into The9. The9 will issue Class A common shares to investors at the average closing price 30 trading days before the signing of the agreement, and the issued shares will comply with the statutory lock-up period.
The9 will establish a new company to operate its global GameFi platform. The company plans to enter into a partnership with a third-party international cryptocurrency foundation to use the foundation's GameFi tokens as the official cryptocurrency of the platform, and will cooperate with cryptocurrency exchanges to promote platform crypto users to join The9's GameFi ecosystem.
The9 will issue 302,263,200 warrants to investors with a valid period of two years. The price of some warrants is $60 per ADS, and the rest of the warrants are divided into two batches: the first batch can be called-over after the investor or its business partners sign a strategic cooperation agreement with The9, and the second batch needs to be called-over after The9's GameFi platform is officially launched. The call-over price is the same as the ADS issuance price of this agreement.