Fangdd Network Group Ltd. (DUO, Financial) experienced a significant stock price movement, initially rising by nearly 16%. However, the gains moderated to under 8%, with the stock trading at $1.789. The company recently announced the signing of a securities purchase agreement for a private placement.
Under the agreement, Fangdd plans to issue up to 3,125,000 Class A ordinary shares and pre-funded warrants at a price of $1.6 per share, aiming to raise $5 million. The net proceeds from this funding will be used for general corporate purposes.
