DASHAN EDU: Termination of Placement Agreement
DASHAN EDU announced the termination of the placement agreement, which originally planned to place up to 40 million shares, but the agreement became invalid due to unmet conditions. Although there were negotiations with the placement agent to extend the deadline, no consensus was reached. The board stated that the termination of the agreement has no significant impact on the company's business and financial condition, and other fundraising activities may be considered in the future
According to the Zhitong Finance APP, DASHAN EDU (09986) announced that it intends to place up to 40 million shares, but as of July 31, 2025, the conditions precedent under the placement agreement have not been met. Although the company has been negotiating with the placement agent to further extend the final deadline, no consensus has been reached as of the date of this announcement. Therefore, the placement agreement has become invalid and has been terminated, and the placement will not proceed. All rights and obligations of the company and the placement agent under the placement agreement have been terminated, and neither party may make any claims against the other regarding the placement agreement.
The board believes that the termination of the placement agreement will not have a significant adverse impact on the group's business operations and financial condition. The company may consider further fundraising activities after taking into account the group's future development and market sentiment
