SHANGHAI, July 14, 2022 /PRNewswire/ -- The9 Limited (NASDAQ: NCTY) ("The9" or the "Company") today announced that it has entered into a cancellation agreement with JPKONG LTD. and Qifeng Sun Ltd., entities controlled by Mr. Jianping Kong and Mr. Qifeng Sun, respectively, to cancel the Tranche IV Warrants that were issued to them pursuant to a share subscription and warrant purchase agreement dated January 25, 2021 among The9, JPKONG LTD., Qifeng Sun Ltd. and other parties named thereto (the "Purchase Agreement"). The Tranche IV Warrants that were cancelled represented the warrants to purchase 23,099,093 Class A ordinary shares of the Company at the exercise price of US$0.2667 per Class A ordinary share issued to JPKONG LTD. and the warrants to purchase 11,549,547 Class A ordinary shares of the Company at the exercise price of US$0.2667 per Class A ordinary share issued to Qifeng Sun Ltd. pursuant to the Purchase Agreement. Such cancellation will not affect the terms or conditions of any other warrants issued pursuant to the Purchase Agreement.
Read more at prnewswire.comThe9 Announces Cancellation of Warrants and Investment in the Initial Public Offering of Nano Labs
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