BEIJING, March 17,
2023 /PRNewswire/ -- Pintec Technology Holdings
Limited (Nasdaq: PT) ("PINTEC" or the "Company"), a leading
independent technology platform enabling financial services in
China, today announced that it has
entered into share purchase agreements with certain investors on
March 16, 2023. Under the share
purchase agreements, the Company agrees to sell and issue an
aggregate of 254,450,000 Class A ordinary shares of the Company for
a total purchase price of US$4,000,000. The per share purchase price is
approximately US$0.0157, which is
calculated as 92% of the average closing sale price of the
Company's American depositary shares ("ADSs") during the five
trading days immediately prior to March 16,
2023. Each ADS currently represents 35 of the Company's
Class A ordinary shares.
Mr. Zexiong Huang, Chief Executive Officer, acting Chief
Financial Officer and director of PINTEC, commented, "The financing
proceeds will support our continued investment in the development
of digitization technology for micro, small and medium enterprises
("MSMEs"), and enable us in building a better and larger MSME
credit team. We are pleased that investors have confidence in our
strategic initiatives and expansion plans. Looking forward, we will
continue to execute our strategic plans and strive to create
long-term value for our investors."
The closings of the transactions are subject to the satisfaction
of customary closing conditions and are expected to take place in
March 2023. The investors have each
agreed not to sell, transfer or dispose of any securities acquired
in the transactions for 180 days after their respective closing
dates.
The foregoing description of the private placement and the share
purchase agreement does not purport to be complete and is qualified
in its entirety by the full text of the form of share purchase
agreement attached as an exhibit to a Current Report on Form 6-K to
be filed with the U.S. Securities and Exchange Commission.
The sale and issuance of the Class A ordinary shares are exempt
from registration under the Securities Act of 1933, as amended (the
"Securities Act") pursuant to Section 4(a)(2) of the Securities Act
regarding transactions not involving a public offering and is made
in reliance on, and in compliance with, Regulation D and/or
Regulation S under the Securities Act, as applicable.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there
be any offer, solicitation or sale of these securities in any
jurisdiction in which such offer, solicitation or sale would be
unlawful.
Safe Harbor Statement
This press release contains forward-looking statements. These
statements constitute "forward-looking" statements within the
meaning of Section 21E of the Securities Exchange Act of 1934, as
amended, and as defined in the U.S. Private Securities Litigation
Reform Act of 1995. These forward-looking statements can be
identified by terminology such as "will," "expects," "anticipates,"
"future," "intends," "plans," "believes," "estimates," "target,"
"confident" and similar statements. Among other things, the
quotations from management in this announcement, as well as
PINTEC's strategic and operational plans, contain forward-looking
statements. PINTEC may also make written or oral forward-looking
statements in its periodic reports to the U.S. Securities and
Exchange Commission, in its annual report to shareholders, in press
releases and other written materials and in oral statements made by
its officers, directors or employees to third parties. Such
statements are based upon management's current expectations and
current market and operating conditions, and relate to events that
involve known or unknown risks, uncertainties and other factors,
all of which are difficult to predict and many of which are beyond
the Company's control. Forward-looking statements involve inherent
risks, uncertainties and other factors that could cause actual
results to differ materially from those contained in any such
statements. Potential risks and uncertainties include, but are not
limited to, the Company's limited operating history, regulatory
uncertainties relating to the markets and industries where the
Company operates, and the need to further diversify its financial
partners, the Company's reliance on a limited number of business
partners, the impact of current or future PRC laws or regulations
on wealth management financial products, and the Company's ability
to meet the standards necessary to maintain the listing of its ADSs
on the Nasdaq Global Market, including its ability to cure any
non-compliance with Nasdaq's continued listing criteria. Further
information regarding these and other risks, uncertainties or
factors is included in the Company's filings with the U.S.
Securities and Exchange Commission. All information provided in
this press release is as of the date of this press release, and the
Company does not undertake any obligation to update any
forward-looking statement as a result of new information, future
events or otherwise, except as required under applicable law.
About PINTEC
PINTEC is a leading independent technology platform enabling
financial services in China. By
connecting business and financial partners on its open platform,
PINTEC enables them to provide financial services to end users
efficiently and effectively. The Company offers its partners a full
suite of customized solutions, ranging from digital retail lending,
digital business lending, robotic process automation, to wealth
management and insurance products. Leveraging its scalable and
reliable technology infrastructure, PINTEC serves a wide range of
industry verticals covering online travel, e-commerce,
telecommunications, online education, SaaS platforms, financial
technology, internet search, and online classifieds and listings,
as well as various types of financial partners including banks,
brokers, insurance companies, investment funds and trusts, consumer
finance companies and other similar institutions.
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SOURCE Pintec Technology Holdings Limited