Shenzhen Danbond Technology Co.,Ltd. (SZSE:002618) announced a private placement of not be more than 164,376,000 class A common shares for gross proceeds of more than CNY 1,780,000,000 on April 3, 2020. The shares will be issued to not more than 35 designated investors and will have a lock-up period of 6 months from the date of completion of this transaction. Pricing reference date will be the first day of issuance. Issue price for the shares to be issued in this private placement shall not be lower than 80% of the average stock price 20 trading days before the pricing reference date. The transaction was approved at the 4th directorate in its 21st meeting of the company. The transaction is subject to approval at the shareholders’ meeting and and from China Securities Regulatory Commission.