Meten (METX) Closes $20 Million Registered Direct Offering: What To Expect?

Meten is an Education and Training Services that provides English language training (ELT) services in the People’s Republic of China. However, Meten stock concluded the trading at $0.5555 on Friday, November 12, with a fall of 5% from its closing price on previous trade while now in the pre-market is surging by over 2%. Besides these, last week company said that it finished its previously announced registered direct Offering which the purchase price of the ordinary shares was about $0.60 per share. It is expected that the gross proceeds of the Offering will be approximately $20 million.
In accordance, the Offering’s exclusive placement agent was Aegis Capital Corp. As I mentioned above, today, Meten’s price continued on a slow bullish way with a slight gain of 2.17% pre-market, reaching $0.5698. Since the last five days, the prices were fluctuated strongly, giving the market cap of almost 72 million dollars; in other words, it has moved within a range of $0.5529 – $0.6180. Finally, Meten Holding Group Ltd. is set to publish its third-quarter fiscal year 2021 ‎financial results on Monday, November 22, 2021. Recall that the company revenues for the second quarter of 2021 increased by 8.2%, and what to expect for the third quarter of 2021?

April Sanchez

Business and Tech Reporter