Fangdd Network Group (DUO) said Friday it has agreed to issue up to 3.13 million class A ordinary shares at $1.60 per share, or pre-funded warrants, to certain investors in a direct offering, for $5 million in total.
The deal is expected to close by Monday. Fangdd said it plans to use the proceeds for general corporate purposes.
Fangdd shares fell nearly 25% in recent trading.
Price: 2.84, Change: -0.93, Percent Change: -24.67
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