6-K
The9 LTD (NCTY)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934
For the month of June 2020
Commission File Number: 001-34238
THE9 LIMITED
17 Floor, No. 130 Wu Song Road
Hong Kou District, Shanghai 201203
People’s Republic of China
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F ___X____ Form 40-F _________
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):________________
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):________________
EXHIBIT INDEX
| Exhibit No. | Description |
|---|---|
| 99.1 | Press Release − The9 Limited Announces the Settlement Deed for its Convertible Notes |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
THE9 LIMITED
| By | : | /s/ George Lai |
|---|---|---|
| Name: | : | George Lai |
| Title: | : | Director and Chief Financial Officer |
Date: June 2, 2020
Exhibit 99.1
The9 Limited Announces the SettlementDeed for its Convertible Notes
SHANGHAI, June 2, 2020 /PRNewswire/ —— The9 Limited (Nasdaq: NCTY) (“The9” or the “Company”), an established Internet company, today announced that The9 and Splendid Days Limited, the holder of the senior convertible notes issued and sold by the Company in December 2015 (the “Convertible Notes”), and other relevant parties have entered into a settlement deed primarily relating to Convertible Notes repayment (the “Settlement Deed”). Pursuant to the Settlement Deed, the interest rate on the Convertible Notes was retrospectively lowered from 12% to 7% per annum for the period commencing from the original Convertible Notes issuance date till February 21, 2020, the date on which interest stopped to accrue on the Convertible Notes. The9 has settled a portion of the total outstanding amount of the Convertible Notes by cash and will further settle the remaining portion by an initial issuance of 32,400,000 Class A ordinary shares (equivalent to 10,800,000 ADSs) to the Splendid Days Limited. Those Class A ordinary shares will be subject to certain lock-up conditions and the number of Class A ordinary shares to be held by Splendid Days may also be subject to quantitative adjustments based on the market value of The9’s shares, as set forth in the Settlement Deed. Subject to the terms and conditions set forth in the Settlement Deed, the interest-free loan of US$5.0 million extended by Ark Pacific Associates Limited, an affiliate of Splendid Days Limited, will be waived.
About The9 Limited
The9 Limited (The9) is an Internet company based in China listed on Nasdaq in 2004. The9 aims to become a diversified high-tech Internet company.