Spearhead Integrated Marketing Communication Group announced that it expects to receive CNY 262 million in funding from Beijing Fushi Management Consulting Partnership Enterprise (Limited Partnership)

Spearhead Integrated Marketing Communication Group announced a private placement of 100,000,000 A shares at a price of CNY 2.62 per share for total gross proceeds of not more than CNY 262,000,000 on May 23, 2022. The transaction will include participation from Beijing Fushi Management Consulting Partnership Enterprise (Limited Partnership) for subscription of all shares in the transaction, for 9.78% stake. The transaction has been approved in the seventeenth meeting of the fourth Directorate, and is subject to to approval from the shareholders of the company, the Shenzhen Stock Exchange and the China Securities Regulatory Commission.

The shares issued under the transaction cannot be transferred within 18 months from the issuance closing date.