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Section Jiucheng city (NCTY. US) announced the signing of a private placement agreement with Fine Vision Fund established by Finewill Capital. The ninth city rose more than 10% at the beginning of the session, up 7.63% to $9.31 as of press release.
According to the agreement, the Fine Vision Fund will invest 3.5 million dollars, including 2.5 million dollars for the initial investment and 1 million dollars for the second investment. The specific investment amount depends on the conditions agreed in advance.
The Ninth City Class A ordinary shares will be issued to the Fine Vision Fund. The value per share of the early investment is equivalent to a premium of 15.6% of the average closing price for 30 consecutive trading days before the signing of this agreement. The value of each share in the second period is equal to a premium of 25% of the average closing price for 30 consecutive trading days before the performance of the pre agreed conditions.
The fund is committed to investing in global game projects and supporting the future of the game industry.
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