SHENZHEN, China, July 15,
2024 /PRNewswire/ -- X Financial (NYSE: XYF) (the
"Company" or "we"), a leading online personal finance company in
China, announced today the results
of its previously announced tender offer (the "Tender Offer") to
purchase up to 2 million American Depositary Shares (the "ADSs") of
the Company, each representing six Class A ordinary shares,
par value $0.0001 per share, at a
price of $4.52 per ADS, less any
applicable withholding taxes, less a cancellation fee of
$0.05 per ADS accepted for purchase
in the Tender Offer that will be paid to The Bank of New York
Mellon, the Company's ADS depositary (the "ADSs Depositary"), and
without interest. The Tender Offer expired at 5:00 P.M., New York
City time, on July 12, 2024.
Based on the results, a total of 2,026,640 ADSs were validly
tendered and not withdrawn. The Company announced that the
aggregate amount of ADSs that the
Company intends to purchase is increased from the previously
announced 2,000,000 to 2,026,640 to accept for purchase all ADSs
validly tendered and not validly withdrawn. Except as described in
this press release, the terms and conditions of the Tender Offers
set forth in the Offer to Purchase remain unchanged.
"We are happy to execute this ADS buyback and provide liquidity
to securityholders who were seeking an exit, at a premium to the
prevailing market price, and at the same time provide remaining
securityholders who did not want to participate an opportunity to
increase their relative percentage ownership in X Financial at no
additional cost to them," commented Mr. Frank Fuya Zheng, CFO of X Financial. "We are
dedicated to navigating the evolving economic landscape while
ensuring the sustainable success of our business and returning
value to our shareholders, and we plan to employ different methods,
such dividends and shares buyback, as and when profitability and
smooth operations allow. We are confident in our position as a
public company and will drive long-term returns for our
shareholders," concluded Mr. Zheng.
Following completion of the Tender Offer, the Company expects to
have 186,872,295 Class A ordinary shares (including Class A
ordinary shares represented by ADSs)
outstanding.
The information agent and depositary for the Tender Offer is
Broadridge Corporate Issuer Solutions, LLC ("Broadridge").
Broadridge will promptly pay for all of the ADSs accepted for
purchase in accordance with the terms and conditions of the Tender
Offer. For all questions relating
to the Tender Offer, please contact: Broadridge Corporate
Issuer Solutions, LLC, Telephone (855) 793-5068 (toll-free), email
shareholder@Broadridge.com.
About X Financial
X Financial (NYSE: XYF) is a leading online personal finance
company in China. The Company is
committed to connecting borrowers on its platform with its
institutional funding partners. With its proprietary big
data-driven technology, the Company has established strategic
partnerships with financial institutions across multiple areas of
its business operations, enabling it to facilitate
and originate loans to prime borrowers under a risk assessment
and control system.
For more information, please
visit: http://ir.xiaoyinggroup.com.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of applicable U.S. securities laws, including
statements about the Tender Offer, including the value of the ADSs
to be offered to purchase in the tender offer and whether the
Tender Offer is actually consummated. Forward-looking statements
may be identified by words such as "seek", "believe", "plan",
"estimate", "anticipate", "expect", "intend", "continue",
"outlook", "may", "will", "should", look forward" "could", or
"might", and other similar expressions. These forward-looking
statements involve risks and uncertainties, as well as assumptions
that, if they do not fully materialize or prove incorrect, could
cause our results to differ materially from those expressed or
implied by such forward-looking statements. Factors that could
materially affect our business and financial results include, but
are not limited to, the factors described in the forward-looking
statement disclosure and "Risk Factors" section of our most recent
Annual Report on Form 20-K. We do not have any intent, and
disclaim any obligation, to update the forward-looking information
to reflect events that occur, circumstances that exist or changes
in our expectations after the date of this press release, except as
required by law.
For more information, please contact:
X Financial
Mr. Frank Fuya Zheng
E-mail: ir@xiaoying.com
Christensen IR
In China
Mr. Rene Vanguestaine
Phone: +86-178-1749 0483
E-mail: rene.vanguestaine@christensencomms.com
In US
Ms. Linda Bergkamp
Phone: +1-480-614-3004
Email: linda.bergkamp@christensencomms.com
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SOURCE X Financial