September 29, 2022


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The9 Announced Entering into a $100 million SEDA to Fund Company Advancement

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Press launch written content from PR Newswire. The AP news team was not involved in its development.

SHANGHAI, Feb. 9, 2021 /PRNewswire/ — The9 Restricted (Nasdaq: NCTY) (“The9”), an recognized Web corporation, right now introduced that it has entered into a standby fairness distribution agreement (the “SEDA”) with YA II PN, LTD. , a Cayman Islands exempt limited partnership managed by Yorkville Advisor World-wide, LP (the “Purchaser”), dated February 5, 2021, pursuant to which The9 would be in a position to offer up to US$100. million of its ADSs only at The9′s ask for centered on The9′s funding need at any time during the 36 months adhering to the day of the SEDA.

Pursuant to the SEDA, the preliminary acquire cost per Adverts (the “Preliminary Order Price”) shall in the beginning be 90{9e6a73ef7eb6fa22b1de79554ca535a2a0aaa70d898e937e26eb250763832f63} of the regular of the 3 least expensive day by day volume weighted normal cost of the Company’s ADSs for the duration of the 5 consecutive trading days promptly prior to the shipping and delivery of an advance discover by The9 (the “Preliminary Pricing Period”) (the day of payment of Preliminary Acquire Selling price is the “Preliminary Closing Date”), which shall be altered to the higher of (A) 90{9e6a73ef7eb6fa22b1de79554ca535a2a0aaa70d898e937e26eb250763832f63} of the average of the 3 cheapest day by day quantity weighted average price of the Company’s ADSs during the Preliminary Pricing Time period and in the course of the 5 consecutive investing days commencing on the trading day immediately adhering to the Preliminary Closing Day, or commencing on the Preliminary Closing Date if the ADSs are gained by the Purchaser prior to the close of trading on the Preliminary Closing Date (the “Secondary Pricing Period”), or (B) 85{9e6a73ef7eb6fa22b1de79554ca535a2a0aaa70d898e937e26eb250763832f63} of the ordinary of the five daily volume weighted common value of the Company’s ADSs in the course of the Secondary Pricing Period of time (the “Final Order Price”). If the Remaining Obtain Selling price is less than the Preliminary Buy Value, The9 shall provide added shares to the Purchaser. If the Ultimate Buy Cost is higher than the Preliminary Buy Cost, the Purchaser shall make payment of the extra volume to The9. The obtain would be subject to sure ownership limits as delivered less than the SEDA. The Purchaser has agreed that, throughout the phrase of the SEDA, neither the Purchaser nor its affiliates will interact in any small revenue or hedging transactions with regard to the Company’s Course A common shares or ADSs.

The9 intends to use the proceeds from the potential featuring of the ADSs pursuant to the SEDA to fund its company expansion.

About The9 Constrained

The9 Restricted (The9) is an World wide web enterprise centered in China shown on Nasdaq in 2004. The9 aims to come to be a diversified large-tech World wide web organization.


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