Missfresh Continued to Jump Over 33% in Premarket Trading and Surged Over 400% in 2 Days

Tiger Newspress2023-08-07

Missfresh Limited continued to jump over 33% in premarket trading and surged over 400% in 2 days.

The Chinese online grocery company said in May that it received a Nasdaq notification related to the late filing.

Missfresh said Thursday that the investors agreed to pay $27 million for Class B stock, subject to the satisfaction of certain closing conditions. Upon the completion of the transactions under the agreements, the new investors will hold Class B stock representing 88.1% of the company's total issued and outstanding shares. The investors agreed to delegate voting rights to Chief Executive Zheng Xu.

The company also agreed to buy digital-marketing company Mejoy Infinite for $12 million.

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