METX - Syndicate Meten Edtechx raises $20M in a registered direct offering

Meten Holding Group (NASDAQ:METX) plummets premarket as it entered into definitive agreements with investors for the purchase and sale pursuant to a registered direct offering of ordinary shares. The purchase price of the ordinary shares was $0.60/share and was priced at-the-market under Nasdaq rules. The gross proceeds of the offering will be ~$20M and will be used for working capital and for other general corporate purposes. The closing of the registered direct offering is expected to take place on or about Nov. 12. METX -17.36% premarket to $0.56.

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Syndicate Meten Edtechx raises $20M in a registered direct offering