- Meten Holding Group Ltd METX, which recently changed its name from Meten Edtechx Education Group Ltd, has priced its public offering of 200 million ordinary shares at $0.30 per share.
- The quoted price represents a 67.4% discount to Meten’s closing price of $0.92 as of September 1, 2021.
- The company expects to raise about $60 million from the offering of ordinary shares and pre-funded warrants. The offering will close on September 7, 2021.
- Meten intends to use the net proceeds from the offering for capital expenditure, general corporate and working capital needs.
- The company held $22.3 million in cash and equivalents as of June 30, 2021.
- Price Action: METX shares are trading lower by 53.34% at $0.43 on the last check Thursday.
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