Fangdd Network prices $4.5M registered direct offering at 88c per share

Fangdd Network Group announced that it has entered into a securities purchase agreement with certain investors for the issuance and sale by the company of $4.5M of Class A ordinary shares, at a price of $0.88 per share, in a registered direct offering. The offering is expected to close on or about October 11, subject to the satisfaction of customary closing conditions. FangDD intends to use the net proceeds from this offering for general corporate purposes. The company has engaged MM Global Securities as its exclusive placement agent in connection with this offering.