Meten Edtechx sells 4M ordinary shares at 25c in private placement

Meten Holding Group announced that it has entered into subscription agreements with two foreign investors, including an institutional investor, Future Satoshi Ltd, and an individual investor, for the issue and sale of 4M ordinary shares of the company, par value $0.003 per share, for total gross proceeds of $1M, or 25c per share. The company expects the transactions contemplated by the Subscription Agreements to close on or about August 16, 2023. The company plans to use the proceeds to purchase additional mining machines, which is expected to further increase the aggregate computing power of the company’s cryptocurrency mining fleet.