SECO - Secoo Holding stock jumps ~14% on announcing equity investment led by HCYK
- Secoo Holding ( NASDAQ: SECO ) stock is surging 13.45% in Friday premarket trading after the firm has entered into share purchase agreements with each of Beijing HCYK Corporation Management Partner and Timing Capital.
- Pursuant to the pacts, HCYK will subscribe for 3.75M Class A ordinary shares of the company for an aggregate price of $3M, and Timing Capital will subscribe for 1.25M Class A ordinary shares of the company for an aggregate price of $1M.
- The closing of the deal is subject to customary closing conditions, including such closing condition that HCYK obtains all required governmental approvals in China for its overseas direct investment in the company.
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Secoo Holding stock jumps ~14% on announcing equity investment led by HCYK