The9 To Own 30% Of WM Therapeutic - Quick Facts

(RTTNews) - The9 Limited (NCTY) has signed a definitive share purchase agreement with WM Therapeutic Co., Ltd. to purchase an additional 21.7% shares of WM Therapeutic by cash and issuance of The9's restricted shares. The9 will pay cash consideration of $1.5 million and will issue 251,290,500 restricted Class A ordinary shares to WM Therapeutic.

The9 had invested 8.3% shares of WM Therapeutic in 2021. With the new agreement, The9 will own 30% of WM Therapeutic. The9 is granted a purchase option to purchase up to 51% of the total shares of WM Therapeutic under certain conditions.

Shares of The9 Limited are up 8% in pre-market trade on Tuesday.

For More Such Health News, visit rttnews.com.