On November 25, 2022, TuanChe Limited, a leading integrated automotive marketplace in China, announced the closing of its previously announced registered direct offering with investors for the purchase and sale of (1) 5,454,546 of its American Depositary Shares (ADSs) (or pre-funded warrants to purchase ADSs in lieu thereof) and (2) warrants to purchase 5,454,546 ADSs, at a combined purchase price of approximately $2.75 per ADS and the associated warrant. Each associated warrant is exercisable to purchase one ADS for $2.75 cash consideration. The aggregate gross proceeds to TuanChe are approximately $15 million.
Wilson Sonsini Goodrich & Rosati acted as TuanChe’s U.S. counsel in this transaction. The Wilson Sonsini team includes:
Corporate
Dan Ouyang
Ke Li
Rujin Ruan
Meichen Liu
Yan Liang
For more information, please see TuanChe’s news release.