TuanChe Limited (TC) Stock

BEIJING, Oct. 24, 2024 (GLOBE NEWSWIRE) --  TuanChe Limited ("TuanChe," "Company," "we" or "our") (NASDAQ: TC), a leading integrated automotive marketplace in China, today announced that it has entered into a definitive agreement with a single institutional investor for the purchase and sale of 761,719 of the Company's American Depositary Shares ("ADSs") (or pre-funded warrants to purchase ADSs ("ADS Equivalents") in lieu thereof). In a concurrent private placement, the Company agreed to issue and sell unregistered warrants to purchase up to an aggregate of 761,719 ADSs. The combined effective offering price for each ADS (or ADS Equivalent) and accompanying warrant is $1.449 per ADS. The private placement warrants will be immediately exercisable, will expire five years from the date of issuance and will have an exercise price of $1.449 per share. The transaction is expected to close on or about October 28, 2024, subject to the satisfaction of customary closing conditions.