TD Holdings, Inc. Announces $45.5 Million Private Placement

Rhea-AI Summary

TD Holdings, Inc. (Nasdaq: GLG) announced a private placement of approximately $45.5 million of its common stock, priced at $0.70 per share. The placement involves the sale of up to 65,000,000 shares to accredited investors, at a premium to the stock's closing price of $0.679 on November 5, 2021. Proceeds are intended for working capital and general corporate needs. The announcement emphasizes compliance with securities laws and references a Form 8-K filed on November 10, 2021, for further details.

Positive

• Successful private placement raising $45.5 million.
• Shares sold at a premium to the market price.

Negative

• Dilution risk for existing shareholders due to the large share issuance.

SHENZHEN, China, Nov. 11, 2021 /PRNewswire/ -- TD Holdings, Inc. (Nasdaq: GLG) (the "Company"), a commodities trading service provider in China, today announced that it has entered into a securities purchase agreement (the "SPA") with two of its affiliates and certain accredited investors for a private placement of approximately $45.5 million of its restricted common stock.

Pursuant to the securities purchase agreement dated November 5, 2021, the Company has agreed to sell up to 65,000,000 shares of its restricted common stock, par value $0.001 per share at a purchase price of $0.70 per share. The offering was priced at a premium to the Company's closing stock price of $0.679 per share on November 5, 2021, the date of the agreement. The Company intends to use the proceeds for its working capital and general corporate purposes.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.

For further details of this transaction, please see the Form 8-K filed with the Securities and Exchange Commission on November 10, 2021.

About TD Holdings, Inc.

TD Holdings, Inc. is a service provider currently engaging in commodity trading business and supply chain service business in China. Its commodities trading business primarily involves purchasing non-ferrous metal product from upstream metal and mineral suppliers and then selling to downstream customers. Its supply chain service business primarily has served as a one-stop commodity supply chain service and digital intelligence supply chain platform integrating upstream and downstream enterprises, warehouses, logistics, information, and futures trading. For more information, please visit http://ir.tdglg.com.

Safe Harbor Statement

This press release may contain certain "forward-looking statements" relating to the business of TD Holdings, Inc. and its subsidiary companies. All statements, other than statements of historical fact included herein are "forward-looking statements." These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. The following factors, among others, could cause actual results to differ materially from those described in these forward-looking statements: there is uncertainty about the spread of the COVID-19 virus and the impact it will have on the Company's operations, the demand for the Company's products and services, global supply chains and economic activity in general. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website at http://www.sec.gov. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

For more information, please contact:

Ascent Investor Relations LLC
Ms. Tina Xiao
Email:tina.xiao@ascent-ir.com 
Tel: +1 917 609 0333

View original content:https://www.prnewswire.com/news-releases/td-holdings-inc-announces-45-5-million-private-placement-301421919.html

SOURCE TD Holdings, Inc.

FAQ

What is the total amount raised by TD Holdings in the recent private placement?

TD Holdings raised approximately $45.5 million in the recent private placement.

How many shares did TD Holdings agree to sell in the private placement?

TD Holdings agreed to sell up to 65,000,000 shares in the private placement.

What was the purchase price per share in the private placement?

The purchase price per share in the private placement was $0.70.

When was the securities purchase agreement for the private placement signed?

The securities purchase agreement was signed on November 5, 2021.

What is the stock symbol for TD Holdings?

The stock symbol for TD Holdings is GLG.