The9 jumps on raising $3.5 mln in private placement deal

The9

24/05/2024 10:53

** Internet company The9's shares  NCTY.O  jump 11% to $10
in premarket trading
    ** $57.5 mln firm signs strategic private placement
agreement with Fine Vision Game Fund
    ** Co to receive $3.5 mln as part of investment -- $2.5 mln
upfront installment and $1 mln second installment on pre-agreed
condition
    ** In exchange, co to issue Class A shares to Fine Vision
Game Fund
    ** As of last close, stock had risen ~15.5% YTD, compared
with an 11.50% increase in Nasdaq index  .IXIC 

 (Reporting by Nikhil Sharma in Reuters)
 ((nikhil.sharma@thomsonreuters.com))