Core Viewpoint - Fangdd Network Group Ltd. has entered into a securities purchase agreement to offer convertible promissory notes and Class A ordinary shares, aiming to raise US5 million [1]. - The notes have a term of nine months and do not accrue interest unless an event of default occurs, in which case interest will accrue at 15% per annum [2]. - Holders can convert their notes into Class A ordinary shares based on a conversion price that is the lower of a fixed price or an alternative price, with a floor price set at US$0.11 per share [3]. Group 2: Closing and Use of Proceeds - The offering is expected to close on or about February 11, 2025, subject to customary closing conditions [4]. - The net proceeds from the offering will be used for general corporate purposes [4]. Group 3: Company Overview - Fangdd Network Group Ltd. is a property technology company in China that focuses on digitalizing real estate transactions through innovative technologies [7]. - The company utilizes mobile internet, cloud computing, big data, and artificial intelligence to enhance the real estate transaction process [8].
FangDD Announces US$5,000,000 Senior Convertible Notes Offering