10:41 AM EDT, 03/31/2025 (MT Newswires) -- The9 ( NCTY ) said Monday it signed private placement deals with cryptocurrency investment funds Elune Capital, Fine Vision Fund, and Bripheno for an $8 million investment.

The company will issue about 302 million stock warrants to the investors, each representing the right to purchase one Class A common share. The warrants have a two-year exercise period, with some exercisable at $60 per ADS and others subject to conditions, including a strategic cooperation agreement or the launch of The9's ( NCTY ) GameFi platform.

The9 ( NCTY ) said it will create a new company to operate its global GameFi platform.

Shares of The9 ( NCTY ) were down 1.7% in recent Monday trading.

Price: 13.72, Change: -0.24, Percent Change: -1.72