The9 Limited announced it has signed private placement agreements with cryptocurrency investment funds Elune Capital, Fine Vision Fund, and Bripheno Pte. Ltd., securing a US$8 million investment.
The investment will support The9 in establishing a new company to operate its global GameFi platform. The company plans to cooperate with a worldwide third-party cryptocurrency foundation for official GameFi coins and a leading global cryptocurrency exchange for user promotion.
The9 will issue 302,263,200 stock warrants to investors, equivalent to 1,007,544 ADSs, with an exercise period of two years. The company plans to issue 10% of its shares within three years to support the future market, operation, and exchange of GameFi coins, aiming for a 'coin-share linkage' model to attract diverse users.
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