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 April 2021
Commission File Number: 001-34238
THE9 LIMITED
17 Floor, No. 130 Wu Song Road
Hong Kou District, Shanghai 200080
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 Signed a Legally Binding Memorandum of Understanding on the Additional Purchase of Bitcoin Mining Machines |
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: April 12, 2021
Exhibit 99.1
The9 Signed a Legally Binding Memorandum ofUnderstanding on the Additional Purchase of Bitcoin Mining Machines
SHANGHAI, April 9, 2021 /PRNewswire/ -- The9 Limited (Nasdaq: NCTY) ("The9"), an established Internet company, today announced that it signed a legally binding Memorandum of Understanding (the "MOU") with an unrelated Bitcoin mining machine owner to purchase Bitcoin mining machines by the issuance of Class A ordinary shares. This batch of Bitcoin mining machines consists of 2,000 units of AvalonMiners with total hash rate of approximately 100PH/S. According to the MOUs, The9 will issue approximately 8,127,390 Class A ordinary shares (equivalent to 270,913 ADSs) to the sellers based on The9 share price of US$24.81 prior to the MOU, with a lock up period of 6 months. The number of Class A ordinary shares to be issued is subject to certain price adjustment mechanisms to be assessed 6 months after the signing of the definitive agreements. The9 will designate an independent valuation firm to conduct examination and assessment of the Bitcoin mining machine fair market value, and will make adjustment to the number of Class A ordinary shares to be issued if needed.
The9 also announced that it completed the signing of the definitive agreements for 12,246 units of Bitcoin mining machines with total hash rate of approximately 288PH/S. The number of Class A ordinary shares to be issued is calculated with reference to the fair market values on the valuation reports issued by an independent valuation firm and The9 share price prior to the respective Memorandums of Understanding signing date. The9 will issue a total number of 9,387,840 Class A ordinary shares (equivalent to 312,928 ADSs) to the sellers, with a lock up period of 6 months.
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.
For further information, please contact:
Ms. Connie Sun
Investor Relations Specialist
The9 Limited
Tel: +86-21-6108-6080
Email:IR@corp.the9.com
Website: https://www.the9.com/en