Passers-bull to sell 148 million dollars in new issue shares

Absrtact: December 15 News, Pedestrian beef tourism network announced today with Hong Yi Investment, Jingdong Mall, Ctrip's subsidiaries Ctrip investment, as well as the CEO and the chief operating officer to sign the share subscription agreement. Under the agreement, the bull will sell 1 to the investors.

December 15 News, Pedestrian beef tourism network announced today with Hong-Yi Investment, Jingdong Mall, Ctrip's subsidiary "Ctrip Investment" and the CEO and chief operating officer to sign the share subscription agreement. Under the agreement, the company will sell 148 million dollars of new shares to the investors.

According to the equity subscription agreement, Hong Yi Investment, Jingdong, Ctrip Investment, chairman and CEO of Udunder and the chief operating Officer Hai Feng, agreed to be 50 million U.S. dollars, 50 million U.S. dollars, 15 million U.S. dollars, 16.5 million U.S. dollars and 16.5 million U.S. dollars to subscribe to the bull a Class A common stock. The subscription price is $4.0203 per share, that is, USD 12.061 per share of US depository receipts. The subscription price is the average of the daily closing price of the US depository voucher for the first 10 trading days before the agreement is signed, with the United States depository voucher and the common stock exchange rate adjusted. This subscription price is higher than the 5 trading days prior to the signing of the US Depositary voucher daily closing price average premium of 3.19%. The issue will be based solely on the U.S. Securities Act of 1933 and its amendment.

The investors agree not to sell and transfer the shares subscribed to in this issue within 6 months after the agreement is signed.

Udunder said: "We welcome Hong Yi Investment, Beijing east to become our new shareholders, and look forward to the next step in the business with Jingdong closer strategic cooperation." Ctrip also increased the shares, we will be in more resources to cooperate. ”

In addition, the company announced the cancellation of its previous plan to publicly issue depository receipts in the United States and withdrew the relevant F-1 documents submitted to the US Securities and Exchange Commission on December 2, 2014.