Nanjing Canatal Data-Centre Environmental Tech Co., Ltd announced a private placement of not more than 65,073,384 A shares for gross proceeds of not more than CNY 1,000,000,000 on January 28, 2021. The transaction will include participation from not more than 35 specific investors. The shares not exceeding 30% of the company's total share capital before the issuance.

The transaction has been approved by the board of directors of the company in its 26th meeting of the second directorate. The transaction is subject to review and approval by the company's shareholder meeting and the approval of the China Securities Regulatory Commission. The shares issued are subject to a hold period of 6 months from the date of issuance.

The approval is valid for 12 months since approval from the shareholders' meeting of the company.