Meten EdtechX Education Group Ltd. (NASDAQ: METX), one of the leading omnichannel English language training (“ELT”) service providers in China, today announced the pricing of an underwritten public offering with gross proceeds to the Company expected to be approximately $40 million, before deducting underwriting discounts and commissions and other estimated offering expenses payable by the Company. The public offering equates to 40,000,000 of the Company’s ordinary shares at a price of $1.00 per share. The Company intends to use the net proceeds from this offering for working capital and general corporate purposes. The closing of the offering is expected to occur on May 26, 2021, subject to customary closing conditions.

The Company has also granted the underwriter a 45-day option to purchase up to an additional 15% of the number of ordinary shares offered in the public offering to cover over-allotments, if any, which would increase the total gross proceeds of the offering to approximately $46 million, if the over-allotment option is exercised in full.

Aegis Capital Corp. is acting as the sole book-running manager for the offering.