Temporary working capital

Meten EdtechX announces a temporary offer allowing the exercise of Nasdaq warrants at a reduced price: METX

SHENZHEN, China, December 7, 2020 (GLOBE NEWSWIRE) – Meten EdtechX Education Group Ltd. (Nasdaq: METX) (“Put in EdtechX“or the”Company“), Leading omnichannel training in English (“ELT“) In China, today announced the filing of a takeover bid and prospectus supplements (the”To offer“) With the United States Securities and Exchange Commission (the”SECOND“) Under which the exercise price of each of the Company’s offered warrants (the”To guarantee”) Is reduced to $ 1.40 per share.

To participate in the Offer and exercise Warrants at the Reduced Exercise Price, Holders will be required to deposit such Warrants by 11:59 p.m. (Eastern Time) on January 5, 2021, as the same discretion ( the “Expiration date”).

There is a minimum sixty-five percent (65%) entry requirement with respect to the Offer (the “Participation requirement”). If the participation condition is met or terminated by the company in its sole discretion, (i) the offer will be made by the company and (ii) the exercise price of all outstanding warrants after the date of expiration (the “Second reduction periodWill be temporarily reduced to $ 2.50 per share, and will be subject to “ratchet” anti-dilution protection with respect to subsequent sales of shares in which any person will be entitled to acquire shares. Ordinary Shares at an effective price per share which is lower than the exercise price of the warrants, subject to the usual exceptions. The Second Reduction Period will end on the later of (i) the date from which the closing price of the Ordinary Shares has been equal to or greater than USD 3.00 per share for at least twenty (20) trading days on the price of the thirty (30) period of the trading day or (ii) the 61st day following the expiration date. If the participation requirement is not met or waived, the offer will not be completed and the exercise price of the outstanding warrants will remain at $ 11.50.

The company offers this opportunity to exercise the warrants at a reduced price in order to encourage the holders to exercise a significant portion of the outstanding warrants, providing the company with additional capital for potential acquisitions, working capital. and general business needs. The Company believes that holders of warrants will find the offer attractive given current market conditions.

Chardan Capital Markets, LLC acted as the company’s financial advisor and placement agent.

Further information

Discussion of the proposed offer contained in this press release is for informational purposes only and does not constitute an offer to buy or a solicitation of an offer to sell any securities. Holders of outstanding warrants of the Company should carefully read these documents and the tender offer statement documents in Schedule TO-I filed with the SEC, as they contain important information, including the various terms and conditions of the takeover bid. The take-over bid statement, including the exercise offer and other related documents, will also be available free of charge to warrant holders on the SEC’s website at www.sec .gov or from the company. Holders of the Company’s warrants are urged to read these documents carefully before making any decision regarding the takeover bid.

For investor and media inquiries, please contact:

Meten EdtechX
Wendy wang
+86 136-5142-6060
[email protected]

Ascent Investor Relations LLC
Tina Xiao
+ 1917-609-0333
[email protected]

About Put in EdtechX

Meten EdtechX is one of the leading ELT service providers in China, providing English language and future skills training for Chinese students and professionals. Through a sophisticated digital platform and a nationwide network of learning centers, the company provides its services under three industry-leading brands: Meten (adult and junior ELT services), ABC (primarily junior ELT services) and Likeshuo ( ELT online). He delivers superior education quality and student satisfaction, which is underpinned by cutting-edge technology deployed across his business, including centralized AI-based education and management systems that record and analyze business processes. real-time learning.

The company is committed to improving the general English skills and competitiveness of the Chinese people to keep abreast of the rapid development of globalization. Its experienced leadership is focused on developing its digital platform and expanding its network of learning centers to provide an ever-evolving service offering to growing numbers of students across China.

For more information, please visit https://investor.metenedu-edtechx.com.

Safe Harbor Declaration

This announcement contains forward-looking statements that involve risks and uncertainties. These statements are made under the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements may be identified by words such as “will”, “anticipate”, “anticipate”, “Future”, “intends”, “plans”, “believes”, “estimates” and similar statements. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including, but not limited to: the ability of the Company to complete the Offer; the volatility of the Company’s common shares; the impact of the COVID-19 epidemic, our ability to attract students without significantly reducing course fees; our ability to continue to hire, train and retain qualified teachers; our ability to maintain and improve our “Meten” brand; our ability to effectively and efficiently manage the expansion of our school network and successfully execute our growth strategy; the outcome of any ongoing or future litigation or arbitration, including those relating to copyright and other intellectual property rights; competition in the English language training industry in China; changes in our revenues and certain cost or expense items as a percentage of our revenues; the expected growth of the Chinese English training and private education market; Chinese government policies relating to private education services and providers of such services; health epidemics and other outbreaks in China; and general economic conditions in China. Further information regarding these and other risks is included in our Annual Report on Form 20-F and other filings with the Securities and Exchange Commission. The Company assumes no obligation to update any forward-looking statement, except as required by applicable law. All information provided in this press release and in the attachments is as of the date of this press release, and the Company assumes no obligation to update such information, except as required by applicable law.

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