The9 Limited entered into a definitive share purchase agreement to acquire additional 21.7% stake in WM Therapeutics Co., Ltd. for approximately $6.1 million.

The9 Limited (NasdaqCM:NCTY) entered into a definitive share purchase agreement to acquire additional 21.7% stake in WM Therapeutics Co., Ltd. for approximately $6.1 million on March 26, 2024. The consideration includes cash consideration of $1.5 million and issuance of 251.3 million restricted Class A ordinary shares equivalent to 0.84 million ADSs. Prior to the transaction, The9 Limited (NasdaqCM:NCTY) held 8.3%.

The9 is also granted a purchase option to purchase up to 51% of the total shares of WM Therapeutic under certain conditions.