Molecular Data Prices Offering Of Units At $0.38/Unit

Molecular Data Inc. (NASDAQ:MKD), a leading technology-driven platform in China’s chemical industry, today announced it has entered into definitive agreements with investors for the purchase and sale pursuant to a registered direct offering of (i) common units, consisting of one American Depositary Share, or ADS, each representing three of its Class A ordinary shares, and one warrant to purchase one ADS and (ii) pre-funded units, consisting of one pre-funded warrant to purchase one ADS and one warrant to purchase one ADS. The purchase price of the common units was $0.38 per unit. The purchase price of the pre-funded units was $0.3799 per unit. The exercise price of the pre-funded warrants is $0.0001, and the exercise price of the ADS warrants is $0.38. The gross proceeds of the offering will be approximately $15 million, before deducting placement agent fees and other estimated offering expenses. The Company intends to use the net proceeds for working capital and for other general corporate purposes. The closing of the registered direct offering is expected to take place on or about September 17, 2021, subject to the satisfaction of customary closing conditions.