Maase To Raise $21M Through Sale Of 10M Class A Shares At $2.08 Each; Warrants Issued For 20M Additional Shares

Maase Inc. (NASDAQ:MAAS) ("MAAS" or the "Company") today announced the execution of a definitive share purchase agreement (the "Agreement") with certain investors, pursuant to which the investors have agreed to subscribe for, and the Company has agreed to issue and sell to the investors, (i) an aggregate of 10,000,000 Class A ordinary shares, par value US$0.09 per share, of the Company, at a purchase price of $2.08 per share (the "Per Share Purchase Price") (the "Share Issuance"), and (ii) warrants to purchase up to 20,000,000 additional Class A ordinary shares of the Company. The transaction is expected to generate approximately $21 million in gross proceeds from the Share Issuance.

The exercise price of the warrants is structured in two tranches: 50% of the warrants are exercisable at 200% of the Per Share Purchase Price, with the remaining 50% exercisable at 250%. Upon the closing of the Share Issuance, the Company will have a total of 25,917,241 ordinary shares outstanding, consisting of 19,250,573 Class A ordinary shares and 6,666,668 Class B ordinary shares. Upon closing of the Share Issuance, the largest investor in this transaction is expected to hold approximately 19.29% of the Company's total outstanding ordinary shares, representing 0.73% of the total voting power due to the Company's dual-class share structure, assuming no exercise of the warrants.

The transaction is expected to close by the end of July 2025, subject to the satisfaction of customary closing conditions. The Company intends to use the net proceeds to support the execution of its business plans as determined by its board of directors, to augment general working capital, and for other general corporate purposes.