TCTM Kids IT To Raise $2M Through 25M Share Sale At $0.08/Share To Boost Growth

Author: Benzinga Newsdesk | April 07, 2025 05:59am

TCTM Kids IT Education Inc. (NASDAQ:TCTM) ("TCTM" or the "Company"), a leading provider of IT-focused supplementary STEM education services in China, today announced that it has entered into share purchase agreements with certain investors on April 1, 2025. Under the share purchase agreements, the Company agrees to sell and issue an aggregate of 25,000,000 Class A ordinary shares of the Company for a total purchase price of US$2.0 million. The per share purchase price is approximately US$0.08, which is the closing sale price of the Company's American depositary shares ("ADSs") as reported by Nasdaq on March 31, 2025. Each ADS currently represents five of the Company's Class A ordinary shares.

Posted In: TCTM