Fangdd Network announced a $5M senior convertible notes offering on March 14, 2025, with a 5% original issue discount and a nine-month term. The notes can be converted into Class A ordinary shares at a conversion price determined by either 130% of the lowest daily VWAP before closing or 90% of the lowest 10-day VWAP before conversion, with a $0.10 per share floor price.The notes rank senior to all existing debt and equity, sharing equal status with February 2025 notes. If conversion price falls below the floor price, the company will compensate holders for the economic difference. MM Global Securities serves as the exclusive placement agent for this offering, which is expected to close around March 14, 2025.The offering is conducted under the company's effective F-3 registration statement filed with SEC. Proceeds will be used for general corporate purposes. The notes carry no interest unless a default occurs, which would trigger a 15% annual rate.

Fangdd Network announced a $5M senior convertible notes offering on March 14, 2025, with a 5% original issue discount and a nine-month term. The notes can be converted into Class A ordinary shares at a conversion price determined by either 130% of the lowest daily VWAP before closing or 90% of the lowest 10-day VWAP before conversion, with a $0.10 per share floor price.The notes rank senior to all existing debt and equity, sharing equal status with February 2025 notes. If conversion price falls below the floor price, the company will compensate holders for the economic difference. MM Global Securities serves as the exclusive placement agent for this offering, which is expected to close around March 14, 2025.The offering is conducted under the company's effective F-3 registration statement filed with SEC. Proceeds will be used for general corporate purposes. The notes carry no interest unless a default occurs, which would trigger a 15% annual rate.