Benzinga | Mar 31, 2021 09:01AM EDT

The9 Limited Announces Pricing Of 3,765,100 ADS Bought Deal OFfering At $33.20/ADS

The9 Limited (NASDAQ:NCTY) ("The9"), an established Internet company, today announced that it has entered into an underwriting agreement with Maxim Group LLC under which the underwriter has agreed to purchase, on a firm commitment basis, 3,765,100 American depositary shares (the "ADSs") of the Company, and warrants to purchase 2,823,825 ADSs, at a price of $33.20 per ADS and accompanying warrant, less underwriting discounts and commissions. The warrants offered in this offering has a term of three years and are exercisable by the holder at $36.00 per ADS at any time after the date of issuance. The gross proceeds from the offering are expected to be approximately $125.0 million, before deducting underwriting discounts and commissions and estimated offering expenses.