The9 Limited (NCTY) Prices 23.5M ADS Common Offering at $0.37/ADS

The9 Limited (NASDAQ: NCTY) today announced the pricing of an underwritten offering of 23,500,000 American depositary shares (the "ADSs") and warrants (the "Warrants") to purchase 23,500,000 ADSs at a combined offering price of US$0.37 for one ADS and one Warrant to purchase one ADS. The ADSs and the Warrants will be issued and sold to investors in a combination of one ADS and one Warrant to purchase one ADS, and will be immediately separated upon issuance. Each Warrant is immediately exercisable for one ADS at an exercise price of US$0.37 per ADS and will expire three years from issuance.

Maxim Group LLC is acting as sole book-running manager in connection with the offering.

The Company has granted the underwriter a 45-day option to purchase up to an additional 3,525,000 ADSs and/or up to an additional 3,525,000 Warrants, at the offering price less discounts and commissions.

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