China Finance Online Co. Limited announced that it has entered into a securities purchase agreement with Zheng James Chen, Frank J. Mitsch and Ying Zhu, each a director of the company, and several senior Company management persons for a private placement of 3,940,050 ordinary shares at a price of $0.101603 per share for gross proceeds of $400,321 on September 14, 2021. The transaction also included issuance of warrants to management and accredited investor, at a price of $0.10 per warrant, exercisable for five years for 78,801 ADSs each for management and institutional investor, half of which are exercisable at $5.98 per ADS and half are exercisable at $6.98 per ADS.

The company has raised the investment in August and September, to date. The transaction has been approved by the directors of the company. The transaction is expected to close to take place in the near future.