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Maase Inc. (NASDAQ:PUYI) announced Thursday that it has entered into a definitive agreement with certain investors for a private placement of its Class A ordinary shares and warrants. According to a statement based on a press release and SEC filing, the company will issue 10,000,000 Class A ordinary shares at $2.08 per share, raising approximately $21 million in gross proceeds.
As part of the transaction, investors will also receive warrants to purchase up to 20,000,000 additional Class A ordinary shares. The warrants are structured in two tranches, with half exercisable at 200% of the purchase price and the remainder at 250%.
Upon closing of the share issuance, Maase Inc. will have a total of 25,917,241 ordinary shares outstanding, comprising 19,250,573 Class A ordinary shares and 6,666,668 Class B ordinary shares. The largest investor in the transaction is expected to hold about 19.29% of the company’s total outstanding ordinary shares, which will represent 0.73% of the total voting power due to the company’s dual-class share structure, assuming no warrants are exercised.
The private placement is expected to close by the end of July 2025, subject to customary closing conditions. Maase Inc. stated that it intends to use the net proceeds to support its business plans, for general working capital, and for other corporate purposes.
Maase Inc. is headquartered in Chengdu, Sichuan Province, China. The information in this article is based on a press release statement and details disclosed in a recent SEC filing.
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