IPO - Fangdd Network Group Ltd.

Form Type: 424B5

Filing Date: 2025-02-11

Corporate Action: Ipo

Type: New

Accession Number: 000121390025011934

Filing Summary: Fangdd Network Group Ltd. is offering a total of US$5,000,000 in Senior 5% Original Issue Discount Convertible Promissory Notes. These notes are convertible into Class A ordinary shares with an original issue discount of 5%. Additional shares amounting to 164,610 are to be issued as commitment shares. The terms include a nine-month maturity period with no accruing interest unless there's an event of default, after which interest rates increase to 15% per annum. Shareholders can convert notes into shares, governed by a calculated conversion price that is either a fixed or alternative price based on market values. The offering is entailed in a Purchase Agreement made on February 10, 2025. The company's shares are listed on the Nasdaq under the symbol 'DUO'. The delivery of securities is expected on February 11, 2025, pending certain closing conditions. Also, the document discusses associated risks with their corporate structure under PRC laws, potential impacts of regulatory changes, and the company's lack of dividend payments, emphasizing the investment risks involved.

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