The9 Limited, a Nasdaq-listed Internet company, has entered into a private placement agreement with Fine Vision Fund, established by Finewill Capital, an internationally renowned investment institution. Under this agreement, Fine Vision Fund will invest a total of US$3.5 million in The9, with an upfront investment of US$2.5 million and a second installment of US$1 million contingent upon a pre-agreed condition. In return, The9 will issue Class A ordinary shares to Fine Vision Fund at a premium on the average closing price over the thirty consecutive trading days prior to the signing of the agreement.

Additionally, The9 has completed a private placement transaction with Bripheno Pte. Ltd., a Singapore-based company. This transaction involved the issuance of 150,000,000 Class A ordinary shares (equivalent to 500,000 American Depository Shares, or ADSs) at a price of USD12 per ADS, a two-year 3% per annum convertible promissory note valued at US$6 million with a conversion price of USD15 per ADS, and warrants to purchase an aggregate of 120,000,000 Class A ordinary shares (equivalent to 400,000 ADSs) at an exercise price of US$60 per ADS, expiring two years from the date of issuance. All securities are subject to a six-month lock-up period. The total funds raised amount to US$12 million, intended to support The9's future growth initiatives.

These strategic investments reflect The9's commitment to integrating traditional gaming with Web3 technologies, aiming to position itself as a leader in the evolving GameFi landscape. The collaboration with Fine Vision Fund and Bripheno Pte. Ltd. is expected to drive innovation and expansion within The9's gaming ecosystem.