Pintec Technology Announces Termination of the Warrant

  • Investing.com
Pintec Technology Announces Termination of the Warrant

Pintec Technology Holdings Limited (PT) ("Pintec" or the "Company"), a Nasdaq-listed group providing technology enabled financial and digital services to micro, small and medium enterprises ecosystem, today announced that Pintec entered into a series of agreements with Otov Alfa Holdings Limited ("Otov") to terminate all terms and provisions of the warrant agreement dated October 19, 2020 (the "Warrant Agreement"), pursuant to which Otov's rights to purchase a certain number of class A ordinary shares of the Company have been ceased and terminated.

On May 26, 2023, Pintec and Otov entered into a share transfer agreement (the "Share Transfer Agreement"), pursuant to which Otov agrees to purchase one ordinary share of Sky City Holdings Limited ("Sky City"), a wholly owned subsidiary of the Company incorporated under the laws of British Virgin Island, or 100% shareholding of Sky City, from the Company at nil consideration. As of the closing date of the Share Transfer Agreement, all equity interests held in all direct and indirect wholly owned subsidiaries of Sky City will be indirectly transferred to Otov along with the transfer of one ordinary share of Sky City.

On May 26, 2023, Pintec and Otov entered into a warrant termination agreement (the "Warrant Termination Agreement"), pursuant to which all terms and provisions in the Warrant Agreement shall be terminated with immediate effect upon the effectiveness of the Warrant Termination Agreement and all rights and obligations of the relevant parties under the Warrant Agreement shall be ceased and terminated with immediate effect upon the execution of the Warrant Termination Agreement.

On May 26, 2023, Ningxia Fengyin Enterprise Management Consulting LLP ("Ningxia Fengyin") and Shanghai Anquying Technology Co., Ltd. ("Shanghai Anquying") entered into an equity pledge release agreement (the "Equity Pledge Release Agreement"), pursuant to which the equity pledge agreement dated November 2020 (the "Equity Pledge Agreement") shall be terminated and Ningxia Fengyin shall relinquish all its rights thereunder, including without limitation all of its right of pledge in the equity interest of the target company (the "Equity Pledge"). Under the Equity Pledge Release Agreement, the Equity Pledge shall be released immediately upon the execution of the Equity Pledge Release Agreement and both parties shall de-register the Equity Pledge with relevant PRC authorities.

Mr. Zexiong Huang, acting Chief Financial Officer and director of Pintec, commented, "We appreciate the investors' confidence in our business innovation and hope there will be more opportunities for cooperation in the future. In the current challenging environment, the Company is forging ahead through our strategic transformation. Our management team and I are full of confidence in the Company's future."

Drop an image here or Supported formats: *.jpg, *.png, *.gif up to 5mb

Error: File type not supported

Drop an image here or

100

Related Articles