Pintec Technology announces $4M private placement of Class A ordinary shares

Pintec Technology announced that it has entered into share purchase agreements with certain investors on March 16. Under the share purchase agreements, the company agrees to sell and issue an aggregate of 254,450,000 Class A ordinary shares of the company for a total purchase price of $4M. The per share purchase price is approximately 1.57c, which is calculated as 92% of the average closing sale price of the company’s American depositary shares during the five trading days immediately prior to March 16, 2023. Each ADS currently represents 35 of the company’s Class A ordinary shares. The closings of the transactions are subject to the satisfaction of customary closing conditions and are expected to take place in March. The investors have each agreed not to sell, transfer or dispose of any securities acquired in the transactions for 180 days after their respective closing dates.