Meten Edtechx Education Group Ltd (NASDAQ: METX) Underwriter has Opted to Purchase 2 Million Ordinary Shares of the Company

Meten Edtechx Education Group Ltd (NASDAQ: METX) has announced that the underwriter of its beforehand announced underwritten public offering has applied, in part, its preference after buying an added 2 million ordinary shares for $1.00 per ordinary share.

The company has received $42 million from the offering

Total gross proceeds to the company from the offering, counting the funds received from the previous closing and part exercise of this option, are $42 million. This sum was before subtracting underwriting deductions, commissions, and other subscription expenditures payable by the company.

Meten EdtechX Education Group Ltd. presented the securities under an actual cataloging statement on Form F-3 (No. 333-256087) beforehand filed with the U.S. Securities and Exchange Commission on May 13, 2021, and acknowledged actual by the SEC on May 21, 2021. 

The company Reports a 247.8% surge in Gross Billing and a 163.9% surge in Students Enrollment of its Junior ELT Business in May 2021

In other news, the company has announced that the gross billing and student registration of its junior ELT business in May 2021 amplified by 247.8% and 163.9%, correspondingly compared to the same period of last year and amplified by 92.4% and 65.2% correspondingly compared to May 2019.

In the first five months of 2021, the gross billing of the company’s junior ELT business amplified by 408.4% year over year and amplified by 120.4% compared with the same period in 2019. These statistics endorse that the company has reverted to its pre-pandemic evolution path.

The company is vigorously escalating its junior ELT business within its current grid of 22 cities and has received a constructive market response. The gross billing from student replenishments and recommendations accounted for 57.7% of the total gross billing of the company’s junior ELT business in May 2021. It has demonstrated that the company’s services have been extensively cherished and accepted by students and their parents. Due to new rule changes, the company will endure developing the business of junior quality-oriented instruction.

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