BRIEF-The9 Signed A Definitive Share Purchase Agreement To Invest In AI Unmanned Retail Store Platform Kuaijin

Reuters05-20

May 20 (Reuters) - The9 Ltd :

* THE9 SIGNED A DEFINITIVE SHARE PURCHASE AGREEMENT TO INVEST IN AI UNMANNED RETAIL STORE PLATFORM KUAIJIN

* PURCHASE OPTION IS EXERCISABLE WITHIN 2 YEARS AND WILL BE BASED ON KUAIJIN'S VALUATION AT US$60 MILLION

* WILL PAY CASH CONSIDERATION OF $1.5 MILLION AND ISSUE 318.4 MILLION RESTRICTED CLASS A ORDINARY SHARES TO KUAIJIN

Source text for Eikon: Further company coverage:

((Reuters.Briefs@thomsonreuters.com;))

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