The9 Limited (NCTY) Announced Entering into a $100 million SEDA to Fund Business Growth

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The9 Announced Entering into a $100 million SEDA to Fund Business Growth

February 9, 2021 1:00 AM EST

SHANGHAI, Feb. 9, 2021 /PRNewswire/ -- The9 Limited (Nasdaq: NCTY) ("The9"), an established Internet company, today announced that it has entered into a standby equity distribution agreement (the "SEDA") with YA II PN, LTD. , a Cayman Islands exempt limited partnership managed by Yorkville Advisor Global, LP (the "Purchaser"), dated February 5, 2021, pursuant to which The9 would be able to sell up to US$100.0 million of its ADSs solely at The9's request based on The9's funding requirement at any time during the 36 months following the date of the SEDA.

Pursuant to the... More