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NCTY

The9 Limited NASDAQ Capital Market
$40.6
Open: $45.56 High: $48.69 Low: $31.38 Close: $40.34
Range: 2021-03-04 - 2021-03-05
Volume: 4,520,005
Market: Closed
Powered by Finage Stock APIDelayed data
NCTY
The9 Limited Building No. 3, 690 Bibo Road Shanghai , 201203 http://www.the9.com
The9 Ltd is an online game operator and developer in China. The company develops and operates online games, including web games, social games and mobile games.
  • CEO: Jun Zhu
  • Employees: 236
  • Sector: Technology
  • Industry: Application Software
NCTY News
Latest news about the NCTY
  • Why The9 Limited Stock Got Crushed Today

    Cryptocurrencies are still floundering, but The9 has high hopes for the new head of its cryptocurrency business.

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  • The9 Appointed Cai ZhiFang as the CEO of NBTC Limited to Lead the Development of Blockchain and Cryptocurrency Business

    The9 Limited (Nasdaq: NCTY) ("The9"), an established Internet company, today announced the appointment of Cai Zhifang as the Chief Executive Officer of NBTC Limited (hereinafter referred to as "NBTC"), a wholly-owned subsidiary of The9, to lead the development of blockchain and cryptocurrency business in NBTC. Mr. Cai has been on board.

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  • The9 Acquires Crypto Cloud Mining Blockchain SaaS For $7M

    The9 Ltd. (Nasdaq: NCTY) a Shanghai-based online game operator, has signed a memorandum of understanding to acquire 70% equity in Hangzhou SuanLi Technology Co. Ltd. (Interhash), a cryptocurrency cloud mining blockchain software-as-a-service company for approximately $7 million. What Happened: Interhash was founded in 2019 and provides cryptocurrency mining-related management services to a global customer base. According to a statement released by the companies, Interhash has managed AvalonMiners, AntMiners, WhatsMiners, Ipollo miners and Ebit miners for users, and the cumulative Bitcoin hash rate under Interhash's management is approximately 590PH/S. What Happens Next: The9 is best known as the developer of games "CrossFire Mobile," "Audition," "Fashion Pop" and "Q Jiang San Guo." This month, it expanded its focus into the cryptocurrency realm, starting with its Feb. 5 announcement of the acquisition of Shenzhen MicroBT Electronics Technology Co. Ltd., a manufacturer of WhatsMiner bitcoin mining machines. “The9's acquisition of Interhash is a strategic action to expand its cryptocurrency mining business after the continuous purchase of Bitcoin and other cryptocurrency mining machines for accumulating cryptocurrency assets,” said the company in a press statement. “The9's goal is to further provide decentralized cryptocurrency cloud mining services to users on top of its current centralized cryptocurrency mining business. Such one-stop mining provides an easy entry point to worldwide users for cryptocurrency cloud mining, and let the worldwide users share the benefits from cryptocurrencies.” The9 might also be in the market for new acquisition following its recent announcement of a $100-million standby equity distribution agreement with Cayman Islands-based YA II PN Ltd. to fund its business growth. Photo by Eivind Pedersen/Pixabay. See more from BenzingaClick here for options trades from BenzingaActivist Investors Seek To Pack Kohl's Board Of DirectorsElectric Truck Maker Xos Going Public Via SPAC: What Investors Need To Know© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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  • The9 Signed Legally Binding Memorandum of Understanding on the Acquisition of a Cryptocurrency Cloud Mining Blockchain SaaS Company

    The9 Limited (Nasdaq: NCTY) ("The9"), an established Internet company, today announced that it signed a legally binding memorandum of understanding (the "MOU") on the Acquisition of 70% equity of Hangzhou SuanLi Technology Co., Ltd. (hereinafter referred to as "Interhash"), a cryptocurrency cloud mining blockchain Software-as-a-Service ("SaaS") company. The acquisition consideration is approximately US$7 million, subject to due diligence and valuation to be conducted by an independent valuation firm. The9 will pay the acquisition consideration by issuance of Class A ordinary shares based on the closing market price of US$82.89 prior to the signing of the MOU.

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  • Riot Blockchain, Canaan, and The9 Stock All Soared Today as Bitcoin Becomes $1 Trillion Asset

    Bitcoin (CRYPTO: BTC) reached an unprecedented milestone for a cryptocurrency on Friday morning. According to Coinbase, Bitcoin is up around 5% over the past 24 hours, hitting all-time highs above $54,300.

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  • Bitcoin Surpasses $51,000 Milestone, Pulling Many Stocks Higher Today

    There's more Bitcoin demand from Wall Street today and the Bitcoin mining boom is only getting stronger.

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  • Why The9 Limited Stock Soared Today

    Shares of The9 Limited (NASDAQ: NCTY) soared on Tuesday after the company announced the purchase of equipment for mining a cryptocurrency called Filecoin. As of noon EST, The9 stock was up 16%. According to the press release from the company, The9 signed a $10 million agreement to buy mining equipment for Filecoin.

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  • The9 Signed a US$10 million Framework Agreement on the Purchase of Filecoin (FIL) Mining Machines

    The9 Limited (Nasdaq: NCTY) ("The9"), an established Internet company, today announced that it signed a US$10 million framework agreement (the "Framework Agreement") with a Filecoin (FIL) mining machine vendor to purchase Filecoin mining machines by cash.

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  • The9 Announced Entering into a $100 million SEDA to Fund Business Growth

    The9 Limited (Nasdaq: NCTY) ("The9"), an established Internet company, today announced that it has entered into a standby equity distribution agreement (the "SEDA") with YA II PN, LTD. , a Cayman Islands exempt limited partnership managed by Yorkville Advisor Global, LP (the "Purchaser"), dated February 5, 2021, pursuant to which The9 would be able to sell up to US$100.0 million of its ADSs solely at The9's request based on The9's funding requirement at any time during the 36 months following the date of the SEDA.

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  • The9 Signed Legally Binding Memorandums of Understanding on the Additional Purchase of Bitcoin Mining Machines

    The9 Limited (Nasdaq: NCTY) ("The9"), an established Internet company, today announced that it signed six legally binding Memorandums of Understanding (collectively the "MOUs") with six unrelated Bitcoin mining machine owners to purchase Bitcoin mining machines by the issuance of Class A ordinary shares. This batch of Bitcoin mining machines includes different brands such as WhatsMiner, AntMiner and AvalonMiner, with a total number of 10,489 units and a total hash rate of approximately 251PH/S. These Bitcoin mining machines have already been deployed in Qinghai, Xinjiang and Inner Mongolia in China. According to the MOUs, The9 will issue approximately 7,178,160 Class A ordinary shares (equivalent to 239,272 ADSs) to the sellers based on The9 share price of US$23.35 prior to the MOUs, with a lock up period of 6 months. The9 will designate an independent valuation firm to conduct examination and assessment of the Bitcoin mining machine fair market value, and will make adjustment to the number of Class A ordinary shares to be issued if needed. The9 expects to complete the signing of the definitive agreements within one month after the signing of the MOUs.

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  • The9 Signed a Strategic Cooperation Framework Purchase Agreement on the Purchase of Bitcoin Mining Machines

    The9 Limited (Nasdaq: NCTY) ("The9"), an established Internet company, today announced that its wholly owned subsidiary NBTC Limited signed a strategic cooperation framework purchase agreement (the "Agreement") with Shenzhen MicroBT Electronics Technology Co., Ltd. ("MicroBT"), the manufacturer of WhatsMiner bitcoin mining machines. Pursuant to the Agreement, upon the payment of a deposit, NBTC Limited has the right of first offer to purchase of 5,000 WhatsMiner bitcoin mining machines from MicroBT within one year, including but not limited to models M32 and M31S. Today the first batch of purchase, 440 WhatsMiner M32 machines, under the Agreement has been executed. Other than WhatsMiner bitcoin mining machines, The9 also plans to continue purchasing different types of cryptocurrency mining machines in the near future.

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  • The9 Signed Legally Binding Memorandum of Understanding on the Purchase of Bitcoin Mining Machines

    The9 Limited (Nasdaq: NCTY) ("The9"), an established Internet company, today announced that it signed five legally binding Memorandum of Understanding (collectively the "MOUs") with five Bitcoin mining machine owners to purchase Bitcoin mining machines by the issuance of Class A ordinary shares. After the completion of the transaction, The9 is expected to own 26,007 Bitcoin mining machines, with a total hash rate of approximately 549PH/S, accounting for about 0.36% of the global hash rate of Bitcoin. Majority of these mining machines have already been deployed in Xinjiang, Sichuan and Gansu in China.

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  • The9 Signed a Legally Binding Cooperation and Investment Term Sheet with Cryptocurrencies Mining Investors Led by Jianping Kong to Start the Cryptocurrencies Business

    The9 Limited (Nasdaq: NCTY) ("The9"), an established Internet company, today announced that it signed a legally binding cooperation and investment term sheet (the "Term Sheet") with several investors in the cryptocurrencies mining industry including Jianping Kong, the former Director and Co-Chairman of Canaan Inc. (Nasdaq: CAN, the first Bitcoin mining machine manufacturer listed on Nasdaq), Qifeng Sun, the former Director of Canaan Inc., Li Zhang and Enguang Li (collectively, the "Investors"). Pursuant to the Term Sheet, The9 will issue Class A ordinary shares and warrants to the Investors. The9 is expected to receive proceeds from the transactions contemplated under the Term Sheet in accordance with certain pre-agreed conditions, if realized. The Investors are expected to utilize their cryptocurrencies mining industry resources to assist The9 for its development of cryptocurrencies mining business. The9 will set up a new wholly owned subsidiary NBTC Limited to operate its blockchain and cryptocurrencies business.

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  • The9 Limited to Hold Annual General Meeting on December 22, 2020

    The9 Limited (Nasdaq: NCTY ) (the "Company"), an established Internet company, today announced that it will hold its annual general meeting of shareholders at the 17 Floor, No. 130 Wu Song Road, Hong Kou District, Shanghai 200080, People's Republic of China on December 22, 2020 at 2:00 p.m., Shanghai time.

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  • The9 Limited Announces Receipt of Nasdaq Notice of Deficiency

    The9 Limited (Nasdaq: NCTY) ("The9" or the "Company"), an established Internet company, today announced that it received a notification letter from the Listing Qualifications Department of The Nasdaq Stock Market Inc. ("Nasdaq") dated November 12, 2020, indicating that the Company no longer meets the continued listing requirement of minimum Market Value of Listed Securities ("MVLS") for the Nasdaq Capital Market, as set forth in the Nasdaq Listing Rule 5550(b)(2) because the market value of the Company's securities listed on Nasdaq for the last 30 consecutive business days was below the minimum MVLS requirement of US$35.0 million.

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  • The9 Announces Closing of US$8.7 Million Underwritten Offering

    The9 Limited (Nasdaq: NCTY) ("The9" or the "Company"), an established Internet company, today announced the completion of an underwritten offering of 23,500,000 American depositary shares (the "ADSs") and warrants (the "Warrants") to purchase 23,500,000 ADSs at a combined offering price of US$0.37 for one ADS and one Warrant to purchase one ADS. The ADSs and the Warrants were issued and sold to investors in a combination of one ADS and one Warrant to purchase one ADS, and are immediately separated upon issuance. Each Warrant is immediately exercisable for one ADS at an exercise price of US$0.37 per ADS and will expire three years from issuance.

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  • The9 Announces Pricing of US$8.7 Million Underwritten Offering

    The9 Limited (Nasdaq: NCTY) ("The9" or the "Company"), an established Internet company, today announced the pricing of an underwritten offering of 23,500,000 American depositary shares (the "ADSs") and warrants (the "Warrants") to purchase 23,500,000 ADSs at a combined offering price of US$0.37 for one ADS and one Warrant to purchase one ADS. The ADSs and the Warrants will be issued and sold to investors in a combination of one ADS and one Warrant to purchase one ADS, and will be immediately separated upon issuance. Each Warrant is immediately exercisable for one ADS at an exercise price of US$0.37 per ADS and will expire three years from issuance.

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  • The9 and Voodoo Signed Cooperation and Publishing Agreement

    The9 Limited (Nasdaq: NCTY) ("The9"), an established Internet company, today announced that it has signed an Agreement with Voodoo, a French game developer and publisher. The9 and Voodoo will collaborate on the publishing and operation of casual games in mainland China. The9 will publish and operate under this agreement two, with an option for a third, casual games with strong IAP (In App Purchase) licensed by Voodoo.

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  • The9 Limited Announces Issuance of Restricted Shares to Certain Directors, Employees and Consultants

    The9 Limited (Nasdaq: NCTY) ("The9" or the "Company"), an established Internet company, today announced that its board of directors and board committees have authorized and approved the issuance of an aggregate number of 29,100,000 restricted Class A ordinary shares (equivalent to 9,700,000 ADSs) of the Company to certain directors, officers, employees and consultants of the Company as share incentive awards for their services to the Company pursuant to its Eighth Amended and Restated 2004 Stock Option Plan. Among those restricted Class A ordinary shares grants, 15,600,000 restricted Class A ordinary shares (equivalent to 5,200,000 ADSs) are subject to restrictions on transferability that would be removed once certain pre-agreed performance targets are met, and 13,500,000 restricted Class A ordinary shares (equivalent to 4,500,000 ADSs) are subject to restrictions on transferability for a six-month period that would be removed in installments once certain service period conditions are met. In the event that the performance targets or the service period conditions are not met, the underlying restricted Class A ordinary shares may be forfeited and cancelled.

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  • The9 Limited Announces the Settlement Deed for its Convertible Notes

    The9 Limited (Nasdaq: NCTY) ("The9" or the "Company"), an established Internet company, today announced that The9 and Splendid Days Limited, the holder of the senior convertible notes issued and sold by the Company in December 2015 (the "Convertible Notes"), and other relevant parties have entered into a settlement deed primarily relating to Convertible Notes repayment (the "Settlement Deed"). Pursuant to the Settlement Deed, the interest rate on the Convertible Notes was retrospectively lowered from 12% to 7% per annum for the period commencing from the original Convertible Notes issuance date till February 21, 2020, the date on which interest stopped to accrue on the Convertible Notes. The9 has settled a portion of the total outstanding amount of the Convertible Notes by cash and will further settle the remaining portion by an initial issuance of 32,400,000 Class A ordinary shares (equivalent to 10,800,000 ADSs) to the Splendid Days Limited. Those Class A ordinary shares will be subject to certain lock-up conditions and the number of Class A ordinary shares to be held by Splendid Days may also be subject to quantitative adjustments based on the market value of The9's shares, as set forth in the Settlement Deed. Subject to the terms and conditions set forth in the Settlement Deed, the interest-free loan of US$5.0 million extended by Ark Pacific Associates Limited, an affiliate of Splendid Days Limited will be waived.

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