24/7 Market News Snapshot 24 October, 2024 – TuanChe Limited American Depositary Shares (NASDAQ:TC)

October 24, 2024

DENVER, Colo., 24 October, 2024 (247marketnews.com) – (NASDAQ:TC) are discussed in this article.
TuanChe Limited has recently experienced significant trading activity, with its stock rising to $1.62 from an opening price of $1.43, representing an increase of approximately 11.77%. This robust price movement follows a previous closing price of $1.449, suggesting strong upward momentum. A trading volume of 41.17 million shares indicates heightened investor interest and optimal conditions for potential bullish trends. Market observers are advised to keep an eye on key resistance levels and any possible pullbacks, as the stock’s volatility creates both opportunities and risks for investors.

In conjunction with this market performance, TuanChe Limited has also announced a strategic deal with an institutional investor designed to bolster its financial framework. This transaction, which involves the sale of 761,719 American Depositary Shares (ADSs) or pre-funded warrants, aims to facilitate a private placement that will issue unregistered warrants for an equal number of ADSs. The combined offering price is set at $1.449 per ADS, and the accompanying warrants will be immediately exercisable, featuring a five-year duration from the issuance date.

The closing of this transaction is anticipated on October 28, 2024, subject to standard closing conditions, and is being conducted under an effective shelf registration statement filed with the U.S. Securities and Exchange Commission (SEC). TuanChe, founded in 2010, has established itself as a frontrunner in the automotive marketplace, connecting consumers with key industry stakeholders through innovative online and offline strategies. The company is committed to leveraging its advanced data analytics and digital marketing expertise to enhance efficiency in automotive marketing, while continuously adapting to meet the changing demands of the market.

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