Workflow
TCTM Announces US$2.0 million Private Placement of Class A Ordinary Shares
TCTMTCTM Kids(TCTM) Prnewswire·2025-04-07 09:55

Core Viewpoint - TCTM Kids IT Education Inc. has entered into share purchase agreements to sell 25 million Class A ordinary shares for a total of 2.0million,indicatinginvestorconfidenceinthecompany′sstrategicinitiativesandexpansionplansintotheAI−drivenmedicalsoftwareindustry[1][2].Group1:SharePurchaseAgreement−Thecompanywillsellandissue25,000,000ClassAordinarysharesatapurchasepriceofapproximately2.0 million, indicating investor confidence in the company's strategic initiatives and expansion plans into the AI-driven medical software industry [1][2]. Group 1: Share Purchase Agreement - The company will sell and issue 25,000,000 Class A ordinary shares at a purchase price of approximately 0.08 per share, totaling $2.0 million [1]. - The closing of the transactions is expected to occur no later than April 7, 2025, subject to customary closing conditions [2]. Group 2: Business Expansion - The financing proceeds from the share sale will support TCTM's expansion into the AI-driven medical software industry, diversifying its business operations [2]. - The company aims to create long-term value for its investors through the execution of its strategic plans [2]. Group 3: Company Overview - TCTM is a leading provider of IT-focused supplementary STEM education services in China, targeting students aged three to eighteen [6]. - The company offers programs such as computer coding and robotics programming, utilizing a combination of live distance instruction, classroom-based tutoring, and online learning modules [6].